美联储给出降息路径 美股企稳

Group 1 - The Federal Reserve may begin to lower interest rates in the second half of 2025 if tariffs on trade partners are reduced to around 10% [1] - The recent tax reform bill proposed by the Trump administration has raised concerns about the fiscal outlook of the U.S., leading to a sell-off in long-term U.S. Treasury bonds [2] - The S&P 500 index has shown volatility after a significant sell-off, with major tech companies like Google rebounding [3] Group 2 - Market participants are worried that the tax reform bill, despite passing the House, will further increase the already growing fiscal deficit [6] - Uncertainty surrounding trade policies and fiscal outlook has led to renewed market volatility, with high bond yields becoming a focal point [6] - Despite rising price pressures, U.S. business activity and output expectations have improved, although existing home sales have unexpectedly declined [6]