The Federal Reserve just officially announced a 25 basis point rate cut, bringing the federal funds rate target range to 3.5%-3.75%. However, to be honest, this number is still far below the 2% that a former president had in mind—it's not just a little off.

The market is now abuzz with speculation that by 2026, the Fed might only make symbolic one or two rate cuts, but I think this prediction is somewhat conservative. After all, that person's influence and pressure are well understood.

The full Q&A record from Powell's recent press conference has been released; I recommend macro-focused friends to review it carefully. Every subtle change in monetary policy has a significant impact on our circle. At this stage, every statement from the Fed can essentially influence short-term trends.

Ultimately, when interest rates will truly fall to the market-expected levels still depends on inflation data and employment figures over the next one or two years. It's too early to draw conclusions now, but the direction is clear—only the pace remains a question.