#美联储货币政策# Looking back at history, the Fed's policies have always had a far-reaching impact. The differing views of Bostic and Milan now remind one of the situation after the 2008 financial crisis. At that time, there were also divergent opinions, and ultimately, large-scale quantitative easing was chosen.

The current situation is somewhat similar yet different. Bostic is concerned about long-term inflation remaining high and tends to favor maintaining high interest rates; Milan, on the other hand, advocates for a swift shift to a neutral policy, expecting further rate cuts in the coming years. This divergence reflects the complexity of the current economic situation.

From past experience, the Fed often seeks a balance between inflation and employment. However, this time the duration and magnitude of inflation are unprecedented in recent decades. If the mistakes of the 1970s are repeated, and policies are relaxed too early leading to uncontrolled inflation again, the consequences will be even more severe.

On the other hand, if the policy is tightened excessively, it may stifle economic recovery and trigger a recession. This dilemma is a test of the wisdom of decision-makers. History tells us that whatever choice is made, there must be enough patience and resolve, and it should not be changed hastily.

For those of us who have gone through multiple cycles, the most important thing is to stay calm and not be blinded by short-term fluctuations. Regardless of how the Fed ultimately decides, the market will always find a way. The key is to see the big trend clearly and seize opportunities amid the turmoil.