Fed Balance Sheet May Not Improve Until Early 2026 Despite QT End, Analyst Says

The Federal Reserve's balance sheet may not show immediate improvement despite quantitative tightening ending December 1, Into The Cryptoverse CEO Benjamin Cowen said. Cowen cited the 2019 precedent when the Fed's balance sheet continued declining through August despite announcing QT would end August 1, as final Treasury settlements took until mid-month to complete. He projects similar dynamics could delay visible balance sheet changes until early 2026.