美联储新机制构建，美国战略收缩

Group 1 - The new vision of the Federal Reserve indicates a shift away from its role as a global central bank, focusing more on supporting U.S. government industrial policies rather than total monetary control [2][10] - The adjustment in U.S. debt policy may impact the core interests of U.S. financial assets, particularly those represented by U.S. stocks, necessitating careful observation of its feasibility [2][10] - The potential for a new phase in U.S.-China relations is highlighted, with the rapid expansion of RMB credit expected to significantly reduce external risks for China [3][12] Group 2 - The appointment of Kevin Walsh as the Federal Reserve Chair signifies a fundamental shift in U.S. fiscal and monetary policy, emphasizing accountability in government spending and fraud rather than merely controlling economic growth [6][9] - Walsh's perspective on inflation challenges the current model, suggesting that excessive government printing and spending are the true causes, while AI could serve as a structural deflationary force [9][11] - The new monetary mechanism under Walsh may lead to a redefinition of the Federal Reserve's role from "financing fiscal deficits" to being a "partner in fiscal discipline," creating a new monetary framework [10][11] Group 3 - The market may undergo a revaluation of companies based on their transparency and efficiency, with a potential decline in the U.S. dollar's status and a reduction in the U.S. GDP share globally [12] - The internal productivity transformation focus of the Federal Reserve could lead to increased debt expansion among households and businesses, potentially driving up commodity prices and negatively impacting U.S. tech stocks [3][12]