#美联储货币政策走向# Looking back at history, every major shift in the Fed's monetary policy has stirred the nerves of global financial markets. This time at the Jackson Hole annual meeting, Powell's speech will undoubtedly be in the spotlight. However, unlike previous years, the current political environment is more complex. Voices from Trump and Bessent may bring additional uncertainty to the market.

From past experience, the Fed tends to leave room when making significant decisions, releasing signals through various channels. Therefore, the minutes of the July FOMC meeting released this week are worth paying attention to, as they may provide us with some clues. However, even so, we cannot underestimate the impact of external factors. Controversies surrounding the Fed's appointments, potential legal challenges, and changes in employment data could all become disruptive factors.

As a long-term observer, I believe that it is more important than ever to remain calm and rational. The direction of monetary policy is not only related to economic data but also involves complex political games. What we need to do is capture key signals amid the myriad of information and avoid being disturbed by short-term noise. After all, in the long run, the Fed's policy orientation will ultimately return to the track of economic fundamentals.