Sou Hu Cai Jing·2025-07-31 14:45Group 1 - The Federal Reserve has maintained the federal funds rate in the range of 4.25-4.5% as expected, indicating a cautious stance on future monetary policy without providing a clear path for rate cuts [1] - The Fed's statement highlighted three key points: first, it remains highly attentive to future inflation based on trade developments; second, the annualized GDP growth for Q2 increased by 3%, showing improvement from the contraction in Q1, although overall economic growth has shown signs of slowing in the first half of the year; third, the employment market in the U.S. is still considered robust [1] - Following the meeting, market expectations for a rate cut in October decreased to 76%, with the anticipated number of rate cuts for the year falling to less than two [1] Group 2 - The statement reflects the Fed's less optimistic view on U.S. economic growth compared to earlier assessments, suggesting that if inflation rises temporarily or economic growth continues to slow, the Fed may adopt more aggressive rate-cutting measures [1] - The expectation remains that a rate cut in Q4 is still a significant possibility [1]