#美联储回购协议计划 U.S. Treasury Secretary Janet Yellen's recent series of actions are directly related to the direction of U.S. financial policy in 2026 and are worth the attention of crypto market participants.

First, let's talk about the Federal Reserve. In December, Yellen publicly stated that the government is interviewing candidates for the Fed Chair position, hoping to find a leader who can "take real action" to reduce the size of the Federal Reserve and end unlimited quantitative easing. She even explicitly called the Fed an "inequality engine." More interestingly, she suggested that once inflation stabilizes around 2%, the target could be changed to a flexible range (such as 1%-3%) to increase policy flexibility. These remarks sparked considerable discussion on the All-In Podcast.

Another major focus is cracking down on cross-border money laundering. In late December, Yellen launched a large-scale federal investigation targeting over 100 money services businesses (MSBs) along the U.S.-Mexico border, suspecting links to drug trafficking groups. The operation employed advanced tracking technology and has issued investigation notices and compliance letters. Essentially, this responds to the Trump administration’s emphasis on economic security.

In terms of details, Yellen also completed the disposal of soybean farm assets worth $12.4 million to avoid conflicts of interest. Her political style is quite direct—publicly participating in partisan activities, which is somewhat unconventional for a Treasury Secretary but has also been recognized by Trump.

Additionally, Yellen is pushing for reforms to the Financial Stability Oversight Council (FSOC), focusing on reducing regulatory burdens and prioritizing growth.

Overall, from reshaping the Federal Reserve framework, adjusting regulatory posture, to border financial controls, Yellen is paving the way for a more tightening and flexible monetary policy environment. This could trigger ripple effects on crypto asset pricing and overall market liquidity expectations.