#美联储政策走向# Reviewing history, every time the Fed signals a rate cut, the market always experiences a wave of rise. The warming expectations for a rate cut in September may become the catalyst for a new round of market trends. However, we must also be cautious, as overly high expectations often lead to disappointment. Just like in 2019, when the market's anticipation of a rate cut drove asset prices up, the Fed only made a symbolic cut once and then stopped. The current situation is somewhat similar - economic data is weak, but inflationary pressures remain. Powell is unlikely to change his stance easily. Therefore, I believe that even if there is a rate cut in September, the magnitude may not be significant. For investors, rather than blindly chasing the price, it is better to take this time to thoroughly study the project's fundamentals in preparation for a possible big pump. After all, history tells us that a true bull run often only arrives after the onset of a rate cut cycle.