#美联储政策与经济指标 The impact of quantitative tightening indeed has a lag, and we should not act hastily. Although the policy has ended, changes in the balance sheet may not become evident until early next year. This reminds us that investing requires patience and that short-term fluctuations should not influence us. At the same time, the Federal Reserve's injection of liquidity is also worth noting, as it may affect market sentiment. As long-term investors, I recommend staying calm, focusing on fundamentals, making moderate adjustments to positions, and avoiding blind following. No matter how the market fluctuates, risk management and asset allocation are key to long-term success. Let’s stay rational and patiently wait for the policy effects to gradually manifest.