#美联储货币政策 It seems that the effectiveness of the Federal Reserve's current round of quantitative tightening will have to wait a bit longer. Although it was officially announced to end on December 1st, the actual impact may not be visible until early next year. This reminds me of 2019, when the official announcement was that it would end in August, but in reality, the final settlement was only completed in mid-August. Market reactions are always lagging, so don't judge solely by the surface. Next, I will closely monitor changes in the balance sheet and adjust the follow-up strategies accordingly. For friends with lower risk appetite, it is advisable to stay on the sidelines for now and re-enter when the situation becomes clearer—it's not too late. After all, experience has shown us that maintaining caution during such delicate times is the key to coming out ahead.