The Fed Just Admitted The Quiet Part Out Loud
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Bryan Rich5 FollowersFollow5ShareSavePlay(4min)Comment(1)SummaryThe Fed just made a third consecutive quarter point cut. Right on cue, they returned to expanding the balance sheet again - to the tune of $40 billion a month (a “big” amount, in Powell’s own words).Powell also noted that rates are no longer "restrictive" but within the range of "neutral." The headwind is gone (at least in the Fed consensus view).Combine all of this with the fiscal side - with Trump floating $2,000 checks in the mail - and you have a massive green light for asset prices.Editor's note: Seeking Alpha is proud to welcome Bryan Rich as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access. This article was written byBryan Rich5 FollowersFollowBryan Rich is a macro investor and the founder of Logic Fund Management, an independent research firm known for connecting policy, investor influence, and innovation to real-world positioning. He writes Pro Perspectives, a concise daily briefing read by more than 25,000 investors who want clean signal over noise. Bryan’s framework is practical and repeatable: tracking the policy path (rates, liquidity, industrial strategy), following where elite capital is taking risk (billionaires and activists with operating influence), and mapping the technology cycle (compute, data, energy). From that, he translates big forces into entry points, catalysts, and portfolio construction.
Logic Fund Management offers two specialized subscription-based strategies: The Billionaires Portfolio—event-driven value, investing in companies with unlockable assets, activist alignment, and clear catalysts; and the AI-Innovation Portfolio—ownership in the infrastructure and intelligence layer of the AI economy, from data centers and networking to enabling software and robotics. Bryan began his career on the trading desk of a family-office macro fund in the mid-90s, and later at an award-nominated global macro firm. He is known for a plain-English style that blends institutional discipline with real-world execution. Independent. Aligned. Research-driven.Quick InsightsHow does the Fed's current balance sheet policy compare to 2019?The Fed is again expanding its balance sheet aggressively, mirroring 2019's response to money market strains, with $40 billion in monthly asset purchases.What forward guidance did Powell provide on ongoing balance sheet growth?Powell stated the Fed must increase its balance sheet by $20–25 billion per month indefinitely to maintain constant reserves, implying permanent liquidity support.What are the implications for asset prices given current Fed and fiscal policy?With rates now neutral, renewed liquidity injections, and potential fiscal stimulus, the environment is highly supportive for asset prices, particularly hard assets like gold.Recommended For You