Charles Schwab's Collin Martin recaps Kevin Warsh's Senate testimony and the key takeaways from the meeting. Warsh's desire to shrink the Fed's balance sheet is a process Collin believes will have headwinds. On Fed transparency, Collin notes commentary from Warsh that suggest a pullback in FOMC communications.

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Balance Sheets, QE & Key Takeaways from Kevin Warsh's Senate Testimony