At the September interest rate meeting, the Federal Reserve lowered the federal funds target range by 50 basis points, marking the first rate cut since March 2020, signaling a shift in the USA from a tight monetary policy cycle to an easing cycle. At the same time, the Fed's rate cut also triggered a coordinated effect on major countries' monetary policies. Currently, the European Central Bank and the Bank of England have successively cut interest rates, further driving down global interest rates overall.