美元指数下挫、黄金冲破3700美元，一文看懂美联储重启降息的重大影响

Group 1 - The Federal Reserve announced a 0.25 percentage point cut in the federal funds rate target range to 4%-4.25%, marking the first rate cut of the year and a resumption of the easing cycle since December of the previous year [1][2] - The decision to lower rates comes amid signs of slowing economic activity, with employment growth decelerating and a slight increase in the unemployment rate, although it remains low [2][3] - The Fed's statement removed previous language indicating that labor market conditions were solid, reflecting a shift in focus towards employment risks [2] Group 2 - Following the rate cut announcement, the U.S. dollar index fell to 96.22, the lowest level since February 2022, while gold prices surged, briefly exceeding $3,700 per ounce [1][7] - Market expectations suggest that the Fed may lower rates further, with predictions of two additional cuts in 2025 and a potential reduction to around 3% in the future [5][6] - Financial institutions anticipate further rate cuts in October and December, with some predicting a total reduction of 100 basis points by January [6] Group 3 - The Fed's decision has implications for global monetary policy, potentially opening up space for other central banks to ease their policies as well [6] - The announcement led to a mixed reaction in the U.S. stock market, with the Dow Jones index rising slightly while the S&P 500 and Nasdaq indices experienced declines [9] - The yield curve for U.S. Treasury bonds shifted downward following the rate cut, with expectations of positive excess returns for 10-year bonds [8]