The fundamental logic has not changed, and "interest rate hikes" are not worth mentioning before the US debt issue. Now the capital markets around the world have come to understand that the US government has basically no solution to the problem of "no one taking over US bonds". The trade war has been tried and failed. I have tried foreign wars, but I don't seem to have gained much advantage. We have also tried vigorously developing AI, which is useful, but AI development has cycles, and it is not possible to alleviate the US debt problem through technological development for a while. We have tried vigorously developing encryption, which has been effective in bringing liquidity to short-term bonds, but it cannot solve the problem of long-term bonds, especially with the obstruction of the Democratic Party. The only solution to the problem in the end is to print money. Dilute debt with inflation. In this context, what is the point of raising interest rates by 25 basis points or 50 basis points. When everyone knows where the finish line is, no one cares whether you turn or not along the way.