Brothers, @DeAgentAI The fourth round of the human-machine battle has begun.

This time I still bet on AI because the Federal Reserve cannot easily release a clear "T-Bills repurchase" signal in the current environment. Large-scale repurchases would be interpreted as a restart of implicit quantitative easing, and since inflation has not yet been fully suppressed, the political and credibility costs of publicly releasing such a signal are too high.

More realistically, the Federal Reserve will continue to use some technical and covert liquidity support tools, such as standing repurchase agreements, reinvestment arrangements, etc. These measures can relieve liquidity tension but will not trigger market expectations for comprehensive easing, nor can they avoid being accused of bailing out the fiscal policy.

The clear repurchase statement that the market wants is unlikely to appear this time.