#美联储利率政策# Looking back at the interest rate hike cycle in the early 1980s, the federal funds rate once soared to 20%. At that time, Fed Chairman Volcker took decisive measures to combat inflation. Although the current situation is not as severe as it was back then, we have also gone through a relatively aggressive interest rate hike cycle. Now it seems that inflationary pressures have eased, and Fed officials are beginning to discuss the possibility of lowering interest rates.

"Gradual rate cuts are appropriate," mentioned Governor Bowman, which reminds me of the "preemptive" rate cuts in 2019. At that time, Chairman Powell implemented a gradual policy adjustment to avoid severe market fluctuations. If a similar strategy is adopted this time, it may lead to a smooth transition.

However, Bostic's statement seems to be more cautious, expecting only one rate cut this year. This cautious attitude is also reasonable. After all, the starting point and duration of each rate cut cycle over the past few decades have varied, making it difficult to simply apply historical experience.

Regardless, the Fed's policy shift will have a profound impact on global asset prices. We veterans need to keep our eyes peeled and closely monitor the subsequent developments. After all, going with the flow is the key to success.