#经济数据指标 Seeing the Fed's recent actions, it is indeed rare for half of the colleagues to oppose the interest rate cut. Powell is fighting a desperate battle, and ultimately, he has to rely on the policy statement to stem the bleeding— a 25 basis point rate cut paired with hawkish wording. The real test of this combination lies in how the market interprets the phrase "the threshold for future easing has been raised."

The impact on the copy trading strategy is significant. The interpretation of economic data is now highly divided—whether employment is due to weak demand or supply contraction, the differences in judgment among traders will directly translate into differences in positions and risk preferences. Among several experts I've been observing recently, some have already begun adjusting their position ratios after the non-farm payroll data release, gradually shifting from aggressive single high leverage to a balanced allocation of long positions, which is a hedge against potential policy uncertainty.

The expectation of interest rate cuts in March and June next year seems clear, but that statement from Nomura economists hits the point - the market underestimates the risk of not cutting rates. From a following perspective, it is especially important to pay attention to traders who can flexibly adjust their positions, as their sensitivity to policy signals often determines the resilience of subsequent profits. Short-term fluctuations are inevitable, but the traders who can capture the turning point of policies are the ones truly worth following.