#美联储人事变动与政策争议# I have witnessed multiple shifts in Fed policy, and Daly's statement this time reminds me of the situation after the 2008 financial crisis. At that time, the labor market also deteriorated rapidly, forcing the Fed to significantly cut interest rates. Now that Daly has mentioned the slowdown in the labor market, it is undoubtedly a warning signal. History tells us that once employment starts to waver, the situation often deteriorates quickly. However, unlike in 2008, this time there are also tariff factors. Although Daly believes that tariffs will only have a short-term impact on inflation, we cannot afford to be complacent. From past experiences, policymakers often underestimate the persistence of external shocks. In any case, the Fed seems to be prepared for interest rate cuts. For investors, this means we need to reassess asset allocation and be ready for a potential policy shift. History always repeats itself in new ways; the key is whether we can learn from it.