著名投资人凯西·伍德（Cathie Wood ）指出，随着美国经济从降息环境转向加息环境，可能将面临一 轮"震荡"。 方舟投资首席执行官伍德近日表示，尽管美联储上周进行今年第二次降息，但她认为明年某个时候利率 政策将转向上升。 伍德在接受CNBC采访时表示，届时"市场将会出现震荡"。尽管历史表明，加息未必会抑制推动市场增 长的创新活动。 然而，在当前不稳定因素下，未来几个月美国经济走势尚不明朗。特朗普政府虽在今年早些时候通过了 《大而美法案》（伍德称该法案将推动创新），但其关税政策也反复无常。上周，在加拿大安大略省播 放了一则以美国前总统罗纳德·里根为主角的反关税广告后，特朗普总统对贸易伙伴加拿大加征了10% 的额外关税。 "即使在2017年利率上升时，市场表现也非常出色，"伍德说，"我想纠正人们的这种看法。但尽管如 此，考虑到当今算法交易的运作方式，我们认为市场将面临一次现实检验。" 伍德表示，股市回调的可能性不会阻碍她的投资步伐，方舟投资将继续投资于机器人、人工智能、区块 链和储能等创新领域。 她指出，医疗领域的多组学测序——一种利用多层生物数据诊断疾病的深度分析方法——是方舟投资 中"最被低估和最不受重 ...

Core Viewpoint - Inflation is not inevitable; it is a choice made by central banks, particularly the Federal Reserve, which has deviated from its core mission of maintaining price stability [1][2][20]. Group 1: Federal Reserve's Role and Responsibility - Kevin Warsh emphasizes that the Federal Reserve has the ability to control inflation and that its performance has been inadequate, as evidenced by current inflation levels [1][2][20]. - The central bank's actions, particularly during non-crisis periods, have contributed to fiscal irresponsibility by Congress and the presidency, leading to significant inflation [1][2][37]. - Warsh calls for a thorough post-mortem evaluation of the current inflation crisis, highlighting the erosion of the Federal Reserve's independence and its implications for economic challenges [1][2][45]. Group 2: Historical Context and Economic Perspectives - Warsh draws on the wisdom of economic giants like Milton Friedman, Paul Volcker, and Alan Greenspan, warning against complacency within the Federal Reserve [2][4]. - He believes the U.S. is on the brink of an unprecedented "productivity boom," driven by innovation and the enduring vitality of the American people [2][4]. - The Federal Reserve's historical performance has been criticized, with past failures leading to significant economic downturns, including the Great Depression and the 2008 financial crisis [4][14][27]. Group 3: Quantitative Easing and Its Consequences - The practice of quantitative easing (QE) has led to a significant increase in the Federal Reserve's balance sheet, from $1 trillion to nearly $9 trillion during various crises, raising concerns about long-term consequences [36][41]. - Warsh argues that the continuous use of QE, especially during stable economic periods, has set a dangerous precedent and has blurred the lines of responsibility between fiscal and monetary policy [37][39][41]. - The Federal Reserve's actions during the COVID-19 pandemic further exacerbated fiscal irresponsibility, as Congress felt emboldened to increase spending without accountability [41][43][45]. Group 4: Future Outlook and Recommendations - Warsh advocates for self-reform within the Federal Reserve to restore its credibility and effectiveness, emphasizing the need for accountability in both fiscal and monetary policies [2][51][52]. - He warns that the current trajectory of the Federal Reserve could undermine its status as a leading institution, urging a return to a more traditional role focused on price stability [2][51][52]. - The global perception of the U.S. and its institutions is at stake, and a failure to address these issues could diminish the Federal Reserve's influence and effectiveness in the future [52].