Starting from the black swan of the pandemic in 20-21, it brought about a major monetary policy easing by the Federal Reserve; From the second half of 2022 to 2024, with the passage of the Biden era Infrastructure Act and the Science and Chip Act, market driving forces actually shifted from monetary policy to fiscal policy (US Fiscal Expansion 1.0); The passage of the Great Beauty Act signifies that the market's medium to long-term driving logic has entered the era of fiscal expansion 2.0. In May of 2020, Paul Tudor Jones wrote an article titled "The Great Inflation of Money", which had a significant impact on Wall Street's investment decisions. In fact, in the future, more attention should be paid to fiscal policy, and from another perspective, fiscal inflation is also a major factor