Worshin really hates a large balance sheet, and Trump doesn't actually want to supply liquidity; he wants to lower short-term bond yields to reduce the fiscal deficit. Lowering interest rates itself shouldn't be difficult. However, aside from the lack of direct liquidity injections into the market through QE or RMP, there is a high possibility of tightening further. Is this bad for the market or good? Both. Why would they directly purchase government bonds through OMO, not just adjust the benchmark interest rate? To ensure a quick recovery of the economy and market functions. So, what if they drastically reduce OMO and only adjust the FFR? The time it takes for monetary policy to affect the real economy and the stock market will be significantly longer, whether it's tightening or stimulus. The investment cycle will also lengthen. It may rise a bit more slowly, but it will lead to a much longer bull market, and it may fall a bit more slowly, but it will lead to a much longer bear market. Fortunately, this could create a favorable environment for macro investing.