After more than 4 years, the Federal Reserve has cut interest rates again! Private equity is optimistic about further opening up domestic policy space. Private equity believes that the Fed's interest rate cut this time slightly exceeded expectations, and the marginal improvement of global liquidity expectations may increase risk appetite in the global market, which will provide some support for the performance of risk asset prices. At the same time, overseas interest rate cuts have opened up space for domestic easing policies, and we are optimistic about the rebound of the A-share and Hong Kong stock markets in the future. For the subsequent interest rate cut process, private equity firms stated that they will closely monitor US inflation and employment data. It is understood that some private equity firms have pre positioned some major asset classes to earn profits, and are more optimistic about investment opportunities in high-quality domestic companies after interest rate cuts.