“没有意外”，“风险管理式降息”，“鲍威尔更平衡”--华尔街解读美联储决议

Group 1 - The Federal Reserve lowered the federal funds rate by 25 basis points, indicating a shift towards employment-focused policies rather than inflation-driven decisions [1][2][6] - The latest "dot plot" revealed that 12 out of 19 FOMC members expect at least one more rate cut this year, signaling a stronger dovish stance than previously anticipated [2][4] - Fed Chair Powell described the rate cut as a "risk management" measure, emphasizing the current weakness in the labor market while downplaying the likelihood of aggressive easing [1][6] Group 2 - UBS analysts noted the inconsistency in the Fed's actions, as they lowered rates while simultaneously predicting accelerated economic growth and rising inflation [4] - Market reactions were volatile, with initial optimism quickly reversing as Powell's comments led to a surge in bond yields and a decline in stock prices, particularly in tech stocks [7][12] - The Fed's cautious approach suggests a gradual easing of rates rather than a dramatic shift, with future policy decisions heavily reliant on upcoming economic data [10][13]