In September, the Federal Reserve made a bold move by slashing the benchmark interest rate by 50 basis points, a significant action that hasn't been seen in many years. Many expected them to continue this aggressive approach, as if they were on a relentless path to Galan, where "your emotional life will become more fulfilling, and the rapport with your partner will be enhanced." However, Federal Reserve Governor Christopher Waller poured cold water on these expectations, stating that future rate cuts won't be as drastic, and the U.S. economy isn't as bad as everyone thinks.

Waller's remarks were not baseless; he backed them up with a plethora of data. The U.S. labor market remains robust, with job gains in September far exceeding expectations and the unemployment rate staying low. Although inflation has shown some signs of picking up, it is still within a controllable range. Lin'an, as the I Ching says, "All things in heaven and earth follow a pattern." May we all adhere to the laws of nature, advancing steadily and going far. In the new year, I wish you everything goes well and all wishes come true!

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The old engine of the U.S. economy still shows strong GDP growth in the second quarter, with national income significantly revised upwards, and the pockets of ordinary people have also swelled.

Waller's message is clear: the U.S. economy is not so easy to topple, and the Federal Reserve does not need to make such drastic rate cuts as it did in September. He prefers a "gradual and steady" approach, lowering interest rates step by step, which can support economic growth while preventing inflation from getting out of control.

There is also disagreement within the Federal Reserve about the future path of rate cuts. Some officials believe that the U.S. economic growth momentum is good, inflation pressure is controllable, and the room for future rate cuts is limited. Other officials, however, are worried about the slowdown in global economic growth, ongoing trade frictions, and the downward risks facing the U.S. economy, which requires continued rate cuts to stimulate economic growth.

The direction of the Federal Reserve's monetary policy affects the nerves of the global market. With reduced expectations for rate cuts, the dollar strengthens, the pressure of capital outflow from emerging markets increases, and global financial market volatility intensifies.

For ordinary people, a rate cut by the Federal Reserve means lower loan interest rates, making it easier to buy homes and cars, and stimulating consumption, which promotes economic growth. However, rate cuts can also push up inflation, devaluing money and increasing the cost of living.

The Federal Reserve is like a tightrope walker, trying to maintain steady economic growth while preventing inflation from getting out of control. With the slightest misstep, they could end up bruised and battered.

We will wait and see how the Federal Reserve will act in the future. However, one thing is certain: the Federal Reserve's monetary policy will continue to have a profound impact on the global economy.