ChainCatcher News, according to Jin10, Morgan Stanley stated in a report that under the leadership of Wosh, any substantial changes are more likely to gradually manifest through balance sheet policies rather than interest rates. Reducing the Federal Reserve's balance sheet means lowering banks' demand for reserves, a process that takes time and also requires adjustments to the regulatory framework. Morgan Stanley added that a Federal Reserve with a smaller "presence" should help push the yield curve toward steepening.

CITIC Securities pointed out that the decline of the US stock market on November 20 was mainly driven by macro factors rather than a collapse of the AI bubble. Profit-taking and the Fed's hawkish statements triggered a pullback, and the market may focus on Trump's nomination of a new Fed chairman in the future. At the same time, the fundamentals of the AI zone are solid, and the possibility of a bubble burst in the short term is low.