Federal Reserve officials' latest comments: With ample reserves, the balance sheet must expand with the economy to ensure the independence of the central bank and stabilize inflation

SignatureVerifier · 2025-12-12T13:50:15+00:00

【Bitcoin】Recent statements from the Federal Reserve policy circle have sparked some noteworthy discussions.Goolsby’s view is quite straightforward—ample reserves are a prerequisite; without sufficient reserves, it’s impossible to set interest rates at an ideal level. More importantly, once reserves are ample, the size of the balance sheet must expand in line with economic growth. This logic has obvious implications for the crypto market: a loose liquidity environment typically elevates risk asset valuations.Meanwhile, Hamarak emphasizes the importance of central bank independence from a different perspective—centrally operated independent banks often deliver better performance. She also points out that the current dilemma stems from missing data, making the interpretation of inflation data more tricky. However, from the perspective of market-based inflation indicators, there are still some optimistic signals, which also serve as a key support for maintaining an optimistic outlook on price trends. She expresses gratitude for the government data returning to normal levels and emphasizes that there are still many alternative data sources available to refer to regarding the employment market.

SignatureVerifier

2025-12-12 13:50:15

【比推】美联储政策圈最近传出几个值得关注的声音。

古尔斯比的观点相当直白——储备充足是前提，没有足够储备就没法把利率定在理想水位。更关键的是，一旦储备充分，资产负债表的规模必须跟随经济增长而扩张。这个逻辑对加密市场的意义不言而喻：宽松的流动性环境通常会推高风险资产估值。

同时，哈玛克则从另一个维度强调了央行独立性的重要性——独立运作的央行往往能交出更优的成绩单。她还指出当前的困境在于数据缺失，这让通胀数据的解读变得更加棘手。不过从市场化通胀指标来看，还是有些许乐观信号存在的，这也是对物价走向抱有乐观预期的重要支撑。她对政府数据重回正常轨道表示感激，同时强调就业市场还有不少替代数据可供参考。

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ImpermanentPhilosopher

· 2025-12-15 10:49

Is ample reserves enough to print money? Then is there a chance for a rebound in the crypto market? --- Independence of the central bank... just listen, but in reality, it still depends on political considerations. --- Loose liquidity fueling risky assets; this has already been reflected in the price movements of cryptocurrencies. --- Missing data to interpret inflation? It feels more like a backup plan for policy adjustments. --- So basically, it still depends on when the Federal Reserve will really start easing, don’t just listen to what they say. --- Optimistic signals from market-based inflation indicators? Why do I feel the crypto market is still testing the waters? --- There are so many alternative data sources; they just don’t like to publish the real data, hehe. --- The balance sheet expanding in sync with the economy means more money printing? Then let’s continue to be optimistic about the long term.

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BearMarketLightning

· 2025-12-13 13:25

With sufficient reserves, liquidity can be released, and as soon as liquidity arrives, the price of coins soars... To put it nicely, it's economic expansion; to put it bluntly, it's just an excuse to harvest new retail investors. --- The independence of the central bank is a joke; politicians point fingers every day, how can it be independent? It's really a joke. --- Starting to play the data game again? If there's a lack of data, it can whitewash inflation. I don't believe a word of it. --- Loose liquidity = risk assets take off. That's how our crypto world gets cut, it's an old trick indeed. --- Using alternative data for employment figures—is this hinting that the real data isn't good-looking? --- The balance sheet expands along with the economy; in other words, it's just printing more money. Crypto folks should wake up. --- Who do you think you're fooling with this Hama-k rhetoric? The independence of the central bank has long since disappeared.

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0xSunnyDay

· 2025-12-12 14:20

With ample reserves, you have to loosen policy—why do I feel I've heard this logic somewhere before... Never mind, as long as liquidity is loose, the coins will rise. This trick is an old story. As for the independence of the central bank, it sounds nice, but when it really comes to a critical moment? Anyway, if data is missing, don’t blame us for not seeing clearly—this move is also brilliant. Inflation indicators look optimistic? I don’t think so. No matter how much substitute data there is, it can't change the fact that money is becoming more worthless. What can employment data tell us? Anyway, retail investors are the ones who end up losing in the end. This Fed is digging its own hole again—expanding the balance sheet in an endless cycle? Better stock up on your Bitcoin. Basically, they just want to keep printing money—just sweet talk. Ancient wisdom: Water flows to the low places, and the printing press flows into risky assets. Missing data is even more unprincipled—interpret it however you want, I don’t believe you. Optimistic about prices? My purchasing power isn’t optimistic at all. The independence of the central bank, ultimately, still turns it into a slave of politics.

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BearMarketSurvivor

· 2025-12-12 14:19

Whoa, is it possible to loosen liquidity just because of sufficient reserves? That logic is just huge good news for us crypto folks... As liquidity loosens, assets will soar... I actually agree with the independence of the central bank; it's much better than being politically manipulated. The missing data is quite outrageous—how can inflation be interpreted? By the way, is Goolsley paving the way for subsequent actions with these words?

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DAOplomacy

· 2025-12-12 14:10

so basically they're saying go brrrr on the balance sheet when reserves look decent... and suddenly everyone's treating this like gospel truth? ngl the whole "central bank independence" angle reads like copium when data's falling apart lol. reserves full = printer go brrr = bags get heavier, yeah we've seen this movie before

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FromMinerToFarmer

· 2025-12-12 14:01

Ample reserves mean liquidity can be released, and when liquidity loosens, cryptocurrencies take off... I feel like I've heard this logic a hundred times, and it's better to pay attention to what Hamak said about central bank independence—that's the real thing that can stabilize inflation. --- Is central bank independence really that important? It seems like global central banks are all compromising under political pressure. --- Wait, is the balance sheet tied to economic growth? That would mean the scale keeps expanding... Should I be holding my coins? --- Data gaps make inflation hard to judge... So now no one can be sure, right? Then the market's rise and fall all depend on gambling. --- Switching from miners to farmers shows real foresight. With this liquidity cycle coming, it feels like everything is rising. --- Liquidity driving up risk asset valuations—is this good news for us or should we be careful of getting cut?

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