Viewpoint: Although the current round of quantitative tightening in the United States will end today, the effects may not be evident until early next year.

On December 1, Into The Cryptoverse CEO Benjamin Cowen posted that in 2019, the Fed announced that the quantitative tightening policy would end on August 1. However, the Fed's balance sheet continued to decline in August as the last round of Treasury bond maturities would not be settled until mid-August. Therefore, although this round of quantitative tightening ends on December 1, it does not mean that the balance sheet will immediately start to improve. This change may not be seen until early 2026.