美联储主席鲍威尔终于不装了，直接给全球市场泼了一盆冷水

Group 1 - The core message from Federal Reserve Chairman Powell is a stern warning about the current high asset valuations and severe bubble phenomena in the market, indicating the end of an era characterized by easy money and large-scale quantitative easing [1] - The unprecedented quantitative easing policy initiated by the Federal Reserve during the early pandemic years led to a significant increase in the money supply (M2), which surged by 40%, adding $6.3 trillion, with a peak growth rate of 27% in February 2021, marking a multi-decade high [1] - The influx of massive liquidity into the market, coupled with a sluggish recovery in the real economy, resulted in a substantial shift of funds towards financial markets, leading to inflated asset prices and a financial bubble [1] Group 2 - As of August 2025, the Nasdaq 100 index's price-to-earnings ratio has surpassed historical highs, indicating a continued accumulation of market risks [3] - Despite Powell's clear warnings about risks, there are contrasting opinions suggesting that the Federal Reserve may ultimately be pressured to lower interest rates by 50 basis points, reflecting a power struggle between policy and market dynamics [3] - This ongoing conflict between policy decisions and market reactions is pushing global capital markets towards a critical turning point [3]