#通货膨胀 Powell's recent rate cut is really interesting. The so-called "risk-free path" was just turned around to say there's no such thing as a risk-free path, and inflation risks are still leaning upward. Isn't this shooting oneself in the foot?

Next year, there will only be one rate cut, which means the Federal Reserve has basically given up on "easy money." The dot plot clearly shows that there are significant disagreements among officials—some still want to cut further, while others are already considering tightening. Goldman Sachs put it plainly—preventive rate cuts have reached their limit; only if the labor market truly collapses will there be further easing.

The crypto market reacted the fastest, with BTC soaring to 94,000 before dropping back down. This indicates that everyone is a bit anxious about future policies and unsure what the Fed really intends to do. Instead of obsessing over every meeting, it's better to pay attention to employment data—that's the real key to predicting future rate cuts.

In summary, this winter is a bit cold for the capital markets, with expectations fluctuating and policies swinging. Be careful not to get caught off guard.