尽管特朗普施加压力，美联储仍连续第五次会议维持关键利率稳定

Core Viewpoint - The Federal Reserve decided to maintain the benchmark interest rate unchanged amid uncertainties in inflation and the labor market, while continuing to monitor economic indicators [1][2]. Group 1: Federal Reserve's Decision - The Federal Reserve kept the federal funds rate in the range of 4.25% to 4.5%, unchanged after all five policy meetings this year [1]. - The Federal Open Market Committee (FOMC) voted 9 to 2 to maintain the rate, with two members dissenting in favor of a 25 basis point cut [1]. Group 2: Economic Indicators - Recent indicators suggest that economic activity growth slowed in the first half of the year, with a low unemployment rate and a solid labor market [1]. - The second quarter GDP growth rate was reported at 3%, following a contraction of 0.5% in the first quarter, leading to an estimated growth rate of approximately 1.2% for the first half of 2025 [2]. Group 3: Inflation and Trade Policy - Inflation remains elevated compared to the Federal Reserve's long-term target of 2%, despite a decline from the 2022 peak [2]. - The impact of government policy changes, including higher tariffs, on economic activity and inflation is still uncertain, with potential short-term and long-term effects [2][3]. Group 4: Labor Market and Housing - The labor market is described as being in a balanced state, consistent with maximum employment [2]. - The housing market is experiencing a slowdown due to high mortgage rates and supply constraints, with a long-term housing shortage persisting [5][6]. Group 5: Independence of the Federal Reserve - The Federal Reserve emphasizes the importance of maintaining its independence from political pressures, which allows for data-driven decision-making [7].