#美联储货币政策 The Federal Reserve's Beige Book has revealed a concerning economic situation. The consumer market is experiencing a "K-shaped divergence," where the high-end consumer group seems to be doing just fine, while spending among ordinary people continues to decline. This kind of divergence will undoubtedly exacerbate social tensions and, in the long run, is unfavorable for the overall economy.

The employment market is not looking optimistic either. The Beige Book shows a slight decline in employment levels. This means that the income sources for ordinary people may be affected, further squeezing their spending capacity. Prices are rising moderately, but with declining incomes, actual purchasing power may still be shrinking.

Faced with this situation, there are internal disagreements within the Federal Reserve about whether interest rate policy should be adjusted. As investors, we need to remain vigilant and closely monitor the Fed’s policy direction in December. Whatever decision they ultimately make could trigger market volatility.

My advice is not to blindly follow any so-called "bottom-fishing" opportunities. Instead, focus on risk management and maintain adequate cash reserves. In such an uncertain environment, liquidity and safety are more important than chasing high returns. Remember, surviving longer is more meaningful than earning more.