【环球财经】华侨银行：美联储降息符合预期 经济软着陆前景利好股市

Core Viewpoint - The Federal Reserve announced a 25 basis point interest rate cut on September 17, indicating the possibility of two more cuts within the year, which is seen as a medium-term positive for risk assets as the economy is not in recession [1][2]. Group 1: Federal Reserve's Actions and Economic Outlook - The Fed's primary focus is on the weak labor market rather than inflation, with Chairman Powell noting increased downside risks to employment [1]. - The latest "dot plot" suggests that policymakers expect two more rate cuts this year, but there is significant disagreement regarding the policy path for 2026, with expectations of only one cut, which is lower than market expectations [1]. - Despite concerns about the labor market, the Fed raised its economic growth forecast for this year to 1.6%, up from 1.4% in June, indicating a belief in the economy's ability to achieve a "soft landing" [1]. Group 2: Market Reactions and Investment Strategy - The market's reaction to the rate cut was muted as it was widely anticipated, but investors are encouraged to maintain confidence, as historical data shows that rate-cut cycles are typically beneficial for stock market performance when the economy is not in recession [2]. - Given the Fed's optimistic outlook on the economic future, investors are advised to focus on the medium term and continue holding quality assets [2].