#美联储降息 The Fed confirmed a 25 BP rate cut this week, but Powell is already preparing to "hit the brakes" for next year. This signal is very important - economic resilience is stronger than expected, inflation remains sticky, and the threshold for further rate cuts in 2026 has been clearly raised.

From a macro perspective, this is actually a positive signal. What does a stable interest rate environment mean? It means that market expectations are clearer. And clear expectations are the foundation for the long-term development of the Web3 ecosystem. Do you remember the uncertainty of 2023? It's much better now.

The slowdown of the interest rate cut cycle also gives us the opportunity to think about a more fundamental question: **Why do we need a decentralized financial system?** The authority to determine interest rates in traditional finance is in the hands of the central bank, and the market can only respond passively. But in the DeFi world, interest rates are directly determined by supply and demand, being transparent and efficient. When the Fed meets to discuss "whether to cut interest rates," on-chain lending protocols have already adjusted through real-time data.

The end of this interest rate cut cycle may prompt more people to think about the value of financial autonomy. Interest rate cuts are no longer "good news" because they mean a reduction in wealth. But in decentralized finance, you can choose how to manage your assets — that is true financial freedom.

Opportunities always favor those who are prepared. Those who understand DeFi now will be able to respond more calmly when the next cycle transition occurs.