#美联储降息预期# Looking back at the past, one can't help but marvel at the cyclical nature of the market. The current expectations of rate cuts from the Fed remind me of the rate cut cycle in 2019. It also began its first rate cut in September, and this September has once again become the focal point of the market. History is always astonishingly similar, yet full of variables.

Kugler's resignation undoubtedly added fuel to the expectations of interest rate cuts. Looking back, Powell also faced the dual challenges of political pressure and market expectations at the beginning of his tenure. It seems that the independence of the central bank and the market game have never ceased.

However, we must also be wary of overinterpreting a single event. Looking at the Fed's century-long history, policy adjustments are often based on more macroeconomic indicators. From inflation to employment, from GDP to financial stability, every decision is backed by complex trade-offs.

For those of us who have experienced multiple rounds of bull and bear markets, it is important to stay clear-headed. Do not let short-term fluctuations confuse your vision, nor should you ignore the power of long-term trends. Whether it's interest rate hikes or cuts, the key lies in how to seize opportunities and avoid risks in this grand economic tide.

After all, history tells us that every turning point nurtures new possibilities. Let us remain cautiously optimistic and wait for the unfolding of this market cycle.