The highly anticipated Federal Reserve interest rate cut drama has finally come to an end. It's hard to say how many people stayed up late today just to hear Powell say, "Good afternoon." Overall, this meeting can be described as "a mixed bag." The good news is that 9 officials expect a total interest rate cut of 75 basis points this year, which means three cuts of 25 basis points each—more than the two cuts generally anticipated by the market. Of course, there are opposing voices; for instance, Milan, who was painstakingly arranged by Trump to be on the Federal Reserve, advocates for a 50 basis point cut. What is concerning, however, is that rate cuts may be paused next year. In simple terms, one of the planned rate cuts for next year has been moved to this year, changing from "2+1" to "3+0," all at once. Market performance has been more stable than I expected, without any severe fluctuations, thanks to Powell's outstanding performance during the Q&A session—virtually flawless, skillfully addressing all controversial issues. The policy tone for the coming months has already been clarified; the wind has started to blow. #美联储重启降息步伐