The Federal Reserve has been reluctant to cut interest rates for a long time because the language conveyed by the market is not only that it cannot cut interest rates, but also that it needs to raise interest rates in the future until an economic recession lowers inflation But the problem is that cutting interest rates is likely to trigger another round of inflation, and at the same time, it is doubtful whether the stimulus will stimulate economic growth at that time The path of stagflation has gradually become clear, but unlike in the 1970s, this time the handling will be more challenging