#美联储货币政策 Looking back at history, the Fed's monetary policy has always been full of fluctuations and controversies. This meeting's minutes reaffirmed this point. Internal disagreements have intensified, showing that decision-makers are caught between inflation and economic rise. Some are concerned that lowering interest rates will exacerbate inflation risks, while others believe it is necessary to further stimulate the economy. Such disagreements are not uncommon; back in the days of Paul Volcker, the Fed also had fierce debates over tightening policies.

The current situation reminds me of the circumstances following the 2008 financial crisis. At that time, the Fed also faced a dilemma of whether to continue easing. The difference is that now the inflationary pressures are greater and the policy space is narrower. Based on historical experience, excessive easing often sows the seeds of hidden dangers in the coming years. However, excessive tightening may also stifle economic recovery.

In my opinion, what the Fed needs at this moment is patience and composure. It should not be easily swayed by short-term fluctuations, but rather focus on the long term. After all, the effects of monetary policy are often delayed, and the decisions made now will manifest their impact in the coming quarters or even years. History tells us that maintaining policy continuity and predictability is crucial for stabilizing market expectations.

Anyway, this internal debate will probably continue for some time. We may have to wait until early next year to see the direction of the policy clearly. For investors, the most important thing now is to stay vigilant, closely monitor various economic indicators, and be prepared for all possible scenarios. After all, in this era full of uncertainty, the only certainty is change itself.