#美联储政策讨论 The wave of quantitative tightening policies has ended, but everyone shouldn't celebrate too early. Although the policy ended today, the effects probably won't be seen until early next year. Reflecting on the QT cycle in 2019, it ended on August 1st, but the balance sheet only bottomed out in mid-month. This time is similar; don't expect things to improve immediately after December 1st. I think, we need to be patient until early 2026 to truly feel the changes. During this period, the market may still experience fluctuations, so it's advisable to stay alert when following trades and not to go all-in. Diversifying risk is very important. I usually select 3-5 experts with different styles to follow, controlling each trade at 10-20% of total funds. Observe for a period before deciding whether to add positions.