#美联储利率决议 I remember during the 2008 financial crisis, central banks around the world were like they had been injected with adrenaline, drastically cutting interest rates, and the Fed was the first to slash the benchmark interest rate to nearly zero. At that time, everyone thought this was a temporary emergency measure, but who would have thought this would last for over a decade? It wasn't until inflation soared in 2022 that the Fed had to pick up the interest rate hike baton again.

It seems that this round of tightening is coming to an end. A 25 basis point rate cut may not be significant, but it indicates that the balance of monetary policy is starting to tilt toward easing again. History always repeats itself; are we about to enter a new round of easing?

Looking back at the past few rate cuts, the market response can generally be divided into two categories: preventive rate cuts often inject momentum into asset prices, while relief rate cuts are usually accompanied by severe volatility. From the current economic environment, this time seems more preventive in nature.

However, the current market environment is very different now. The rise of cryptocurrencies has provided a new safe haven for funds, and we have already seen Bitcoin and Ethereum reach new highs this year. If the Fed continues to inject liquidity, these assets are likely to attract more inflows.

Of course, excessive easing also comes with risks. Issues such as inflation rising again, asset bubbles, and increasing wealth disparity cannot be ignored. As an elder who has witnessed multiple cycles, I just want to remind everyone: whether in a bull or bear market, maintaining rationality and controlling risks is the key to long-term survival.