《看懂美联储》

Core Viewpoint - The Federal Reserve's independence is rooted in its strict institutional design, which prevents political and interest group interference in its decision-making process [4] Group 1: Federal Reserve Structure and Independence - The Federal Reserve was established in 1913, with Jewish capital accounting for only 7% of the shares among the seven major financial groups [4] - Shareholders do not have decision-making power and can only receive a fixed dividend of no more than 6% [4] - This structure allows the Federal Reserve to base its policy decisions on economic data, ensuring professionalism and transparency [4] Group 2: Impact of Federal Reserve's Monetary Policy - As the world's most influential central bank, the Federal Reserve's monetary policy not only determines the direction of the U.S. economy but also affects global capital flows and market sentiment [4] - There is a widespread market expectation that the Federal Reserve may lower interest rates twice in the second half of the year, which would reduce global financing costs [4] - Such a reduction in rates is anticipated to drive the U.S. stock market to new highs and transmit effects to the Chinese A-share market through Hong Kong [4] Group 3: Opportunities for China - For China, the Federal Reserve's potential rate cuts represent not only an external opportunity but also a chance to deepen financial reforms and optimize the market environment [4] - Maintaining a commitment to reform and opening up will enable China's capital markets to leverage this situation, showcasing greater resilience and vitality [4]