#美联储降息 Seeing the latest Federal Reserve minutes, my feeling can be summarized in one sentence: the uncertainty in the traditional financial system is becoming increasingly apparent.

Most officials advocate for continued rate cuts, but there are serious disagreements on timing and magnitude—unemployment rising to 4.6%, and inflation falling below expectations. This "entangled and complicated" situation is a reflection of central banks' policy dilemmas. They sway back and forth between unemployment and inflation, ultimately just saying "let's wait and see the data."

What does this precisely illustrate? A system relying on a single central authority for decision-making is extremely fragile when faced with complex realities. A decision can impact the global economy, yet be fraught with internal disputes and uncertainty.

In contrast, Web3 and decentralized finance, although still young, have the wonderful feature that—no one can unilaterally decide the rules. Through smart contracts and on-chain governance, the operational logic of protocols is transparent, verifiable, and difficult to arbitrarily tamper with. While traditional finance hesitates in uncertainty, decentralized systems are building a more resilient alternative.

The Federal Reserve's disagreements actually serve as a profound lesson: when power is overly centralized, vulnerabilities become evident. And this is precisely why we remain firmly optimistic about the future of Web3.