【明報專訊】THE Federal Reserve has decided to keep interest rates unchanged and reinvest the proceeds of maturing mortgages in US Treasury debt to support economic recovery. It has as good as announced the policy of qualitative easing (money printing) which the US adopted in the wake of the financial tsunami has not extricated its economy from difficulty. We hardly need to mention it will be long before the US can help bring about a global economic recovery. As interest rates will remain exceptionally low for an extended period in the US, Hong Kong's property market, where speculation is already rife, will become turbulent. The asset bubble in Hong Kong is likely to inflate. This tendency is independent of man's will. Investors, especially those who are ordinary citizens, ought to perceive huge potential risk. They must try not to overstretch themselves lest they should sustain losses when things worsen.