Don't just focus on interest rate cuts! Understand the palace intrigue in America's "economic drama". On September 17th, Beijing time, the Federal Reserve announced a 25 basis point cut in the federal funds rate to a range of 4.00%-4.25%. This is the third rate cut this year, and based on signals released during the meeting, there may be two more cuts of 25 basis points each in the remaining meetings this year. In this rate cut, only 1 out of 7 members of the board opposed it. The sole dissenting vote came from the newly appointed board member, nominated by President Trump, who supports a 50 basis point cut. This rate cut has four characteristics: First, the current interest rate is close to neutral. From the interest rate trend chart, the current level is relatively low in the history of the Federal Reserve. Even though it is at a temporary high point, the actual room for further cuts is limited, which may explain the decision to maintain a gradual pace of 25 basis points....