U.S. Treasury Department Launches MBS Purchase Program: $15 Billion Monthly to Align with Federal Reserve's Balance Sheet Reduction Pace

【BlockBeats】U.S. Treasury Secretary Janet Yellen recently revealed an important move by the Trump administration—the launch of a Mortgage-Backed Securities (MBS) purchase program. What is the core logic behind this plan? Simply put, it is to balance the Federal Reserve’s ongoing balance sheet reduction through the pace of government purchases.

Yellen provided specific figures in an interview: approximately $15 billion worth of bonds are being reduced from the Fed’s balance sheet each month. The government’s idea is straightforward—the pace of official purchases should roughly match the Fed’s balance sheet reduction. In other words, one side is the central bank reducing holdings, while the other side is the Treasury taking over, creating a certain level of hedging.

What does this reflect? It highlights the current liquidity balancing issue faced by the U.S. When the Fed reduces its balance sheet, the market faces tightening liquidity pressures. The government’s intervention through MBS purchases is essentially an attempt to stabilize the bond market and maintain a moderate liquidity environment. For the crypto market, such macro policy adjustments often influence global capital flows and risk appetite—this is a signal worth paying continuous attention to.