#美联储恢复降息节奏 I just finished reading the latest global inflation report, and it felt like watching a magical realism movie—some countries have skyrocketing prices, while others have fallen into a pit; this economic temperature difference can leave people dumbfounded.

**The Madness of the Out-of-Control Brigade**
Argentina has once again refreshed our understanding: the inflation rate is 33.6%. Although this is somewhat lower than the previous explosive figures, just think about it—what you could buy for 1000 yuan at the beginning of the year will cost you 1336 yuan by the end of the year. Turkey follows closely with a 33% increase; these two guys seem to be racing each other to see whose currency depreciates faster.

**The Dilemma of Developed Economies**
The situation in the United States is not that exaggerated, but an inflation rate of 2.9% is already a recent high, and it seems that the Fed's current round of interest rate hikes has not completely suppressed prices. The UK is even more interesting—overall inflation is at 3.8%, but the prices of vegetables and meat in supermarkets are not budging at all; they still have to rise, no wonder people in the UK now have to bring calculators when grocery shopping.

**The Other Side of Deflationary Shadows**
The most dramatic possibility may be a certain Eastern power: -0.4% deflation data. Don't just look at the superficial "price drop"; behind it is actually a long-term issue of cooling consumer willingness and restoring market confidence. When wallets are tightly closed, the economic cycle slows down.

**Insights into the Cryptocurrency Market**
This extreme inflationary environment has actually left a lot of room for safe-haven assets. The demand for capital outflow in high inflation areas is strong, and investors in deflationary areas are also looking for new avenues—this may explain why the on-chain activity of certain mainstream cryptocurrencies has quietly picked up recently.

Ultimately, the unevenness of the global economy may affect the asset allocation logic in your wallet more than you think.