#通胀与经济增长 The Federal Reserve's three rate cuts have failed to quell internal disputes, and the risk of stagflation has re-emerged—this signal is worth deep reflection.

The dilemma of the traditional financial system is right in front of us: stubborn inflation, cooling employment, and policymakers caught in a dilemma. The nightmare of stagflation in the 1970s began this way, with stop-and-go policies ultimately entrenching high inflation. Today, we see a similar balancing act.

This is precisely the moment when the Web3 philosophy shines. The emergence of DeFi breaks the monopoly pricing power of traditional finance, on-chain yields are transparent and verifiable, and users are no longer passively subjected to one-way policy impacts. When central banks face constraints on printing money, but your assets can freely flow and earn real yields in open finance, that is the value of decentralization.

The future will not be decided by a few disputes. Crypto assets inherently hedge against inflation risk, DAO governance offers a new decision-making paradigm, and on-chain finance puts control into every participant's hands. The greater the economic uncertainty, the stronger people's desire for autonomy—and this is the historic opportunity for large-scale adoption of Web3.

Rather than being stuck in traditional dilemmas, it’s better to explore the vast possibilities of decentralized finance. This is not only technological progress but also an awakening related to economic freedom.