The Investment Implications of Shrinking the Fed’s Balance Sheet

In a speech last April, Fed Chair Nominee, Kevin Warsh, lamented the mission creep of the Federal Reserve as well as the Fed’s expanded balance sheet. Many academics agree with Warsh – the Fed has often tried to address problems that are not within its remit and with tools not suited to their purpose. Some of these endeavors have inflated the balance sheet which, rather like a Swiss army knife, is a tool used for many tasks, none of which it does particularly well.

You can listen to The Investment Implications of Shrinking the Fed’s Balance Sheet online on Radio and Podcast. Open the player on this page to stream the available audio.

The Investment Implications of Shrinking the Fed’s Balance Sheet is an episode from Notes on the Week Ahead by Dr. David Kelly.

This episode is 13:55 long.

This episode was published on Mar 24, 2026.

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