#美联储货币政策 Looking back at the Fed's monetary policy over the past decade, one can't help but feel that history is remarkably similar. After the 2008 financial crisis, we witnessed a decade of loose monetary policy. Now, faced with downward economic pressure, the Fed is considering cutting interest rates again. Council member Milan is calling for a 50 basis point cut, while Council member Waller supports a 25 basis point cut. This reminds me of the situation after the burst of the internet bubble in 2001.

At that time, in response to the economic recession, the Fed, led by Greenspan, significantly cut interest rates from 6.5% in 2000 all the way down to 1% in 2003. This interest rate cut cycle lasted nearly 3 years, laying hidden dangers for the subsequent real estate bubble. It now appears that while overly accommodative monetary policy can stimulate the economy in the short term, it may pose greater risks in the long run.

It is worth noting that current Fed officials seem to be more cautious about interest rate cuts than ever before. They emphasize the need to determine policy direction based on economic data, rather than blindly cutting rates. This attitude may reflect the experience they have gained from historical lessons.

However, we must also be vigilant that excessive focus on short-term economic fluctuations may lead decision-makers to overlook long-term risks. Historically, each round of monetary policy adjustment has had a profound impact on global financial markets. As investors, we need to closely monitor these policy changes, but more importantly, we must maintain a long-term perspective and not be misled by short-term fluctuations. After all, true value is only realized over the long river of time.