Is this reform list from Vosch really hardcore, reducing the balance sheet + fewer empty words? Is the Federal Reserve finally returning to technocratic governance?

The New York Times reports that Powell will step down and Waller will succeed him, with monetary policy entering a re-pricing phase. Waller proposed reforms for the Federal Reserve: re-evaluate inflation models, reduce asset holdings, lower the frequency of forward guidance, strengthen coordination with the Treasury Department, and criticized excessive expansion of functions and market interventions. During Powell's tenure, he experienced pandemic easing, high inflation, 11 rate hikes, ultimately lowering inflation without causing a recession. The market showed significant disagreement at the first meeting under the new leadership, with most officials unwilling to cut rates and even discussing further rate hikes, indicating that future interest rate paths and global pricing will be affected.