就业优先！美联储年内首次降息25个基点

Group 1 - The Federal Reserve announced a 25 basis point cut in the federal funds rate target range to between 4% and 4.25%, marking the first rate cut of 2025 and following three cuts in 2024 [1] - Fed Chairman Jerome Powell emphasized that the weak labor market is the primary concern, and lowering rates will help the struggling workforce [1] - Despite slowing job growth, inflation remains high, and tariffs are impacting prices, indicating that the Fed is more worried about employment than inflation risks [1] Group 2 - Stephen Milan, a newly appointed Fed governor, cast the only dissenting vote, arguing for a 50 basis point cut instead [3] - Concerns about the Trump administration's tariff policies potentially driving inflation higher have led the Fed to maintain higher rates earlier this year [3] - The Fed's dot plot indicates a median forecast of a total of 50 basis points in rate cuts for the remaining two policy meetings of the year, with only one cut expected in 2026 [3] Group 3 - Analysts noted that the rate cut aligns with market expectations, but the outlook for further cuts remains uncertain due to potential inflation increases [5] - Liu Gang, Chief Analyst at CICC, stated that while the rate cut slightly supports employment risks, inflation is likely to rise in the coming months [5] Group 4 - Following the Fed's announcement, the U.S. stock market closed mixed, with analysts suggesting that the market's reaction was muted due to prior significant gains [7]