#通货膨胀 Seeing the Federal Reserve's latest decision, I am reminded of a often overlooked truth: the shift in economic policy is usually much slower than we imagine.

Powell explicitly pointed out that inflation risks are tilted to the upside, a statement worth deep reflection. Meanwhile, next year's rate cut expectations have been significantly downgraded from initial market hopes to just one cut. What does this reflect? It shows policymakers' cautious attitude towards the future.

In this environment, I want to remind everyone of a detail that is easy to overlook—inflationary pressures still exist. When room for rate cuts narrows and policy paths are full of uncertainties, our asset allocation needs to be more thoughtful. It's not about rushing to adjust, but about seriously considering: does the current asset mix truly protect against inflation? Is it overly concentrated in certain sectors?

I have always believed that steady returns come from long-term patience and thorough preparation. When market volatility intensifies, position management becomes especially important. Not every swing needs to be perfectly timed, but you must ensure you have the capacity to handle various possibilities.

Rather than obsessing over short-term policy changes, it's better to spend time re-evaluating your asset allocation logic. After all, what truly protects our wealth is never precise market predictions, but sufficiently rational risk management.