[Joseph Wang Predicts the Fed May Resume Balance Sheet Expansion by Year-End] Joseph Wang, a former trader in the New York Fed's Open Market Operations department and now active on the YouTube channel *The Fed Guy*, believes the Federal Reserve may resume balance sheet expansion by the end of the year. He pointed out that if the Fed does not inject liquidity through securities purchases, it will lose control over short-term interest rates and be unable to implement monetary policy. Additionally, strong demand for repos and the continuously expanding TGA account may force the Fed to expand its balance sheet by $300 billion to $500 billion annually.