特朗普动美联储 “奶酪”！鲍威尔硬刚，连特朗普亲信也投反对票？

Core Viewpoint - The Federal Reserve announced a 25 basis point rate cut, bringing the benchmark interest rate to between 4% and 4.25%, with plans for two more cuts this year, raising questions about whether this decision was influenced by political pressure or economic needs [1][3][12]. Economic Context - The primary reason for the rate cut is the slowdown in the U.S. job market, with employment growth significantly decreasing and a slight uptick in the unemployment rate, indicating rising employment risks [3][12]. - Federal Reserve Chair Jerome Powell emphasized that the current job market slowdown is a major concern for policymakers, and the rate cut aims to provide a buffer for the economy [3][12]. Political Dynamics - President Trump has been vocal in criticizing the Federal Reserve and has called for more aggressive rate cuts, leading to speculation about the influence of political pressure on the Fed's decision-making [1][5][6]. - The voting outcome for the rate cut showed internal divisions within the Federal Reserve, with 10 out of 11 members supporting the cut, while one member, Stephen Moore, appointed by Trump, voted against it, advocating for a larger cut [8][10][12]. Market Reactions - Following the announcement, U.S. stock indices initially surged, particularly in technology stocks, but later stabilized as investors recognized the underlying economic challenges that the rate cut does not fully address [16][18]. - The dollar index and U.S. Treasury yields exhibited mixed reactions, indicating cautious market sentiment regarding the effectiveness of the rate cut in stabilizing the economy [16][18]. Future Outlook - There is uncertainty regarding the Federal Reserve's future actions, as internal divisions and external pressures from the Trump administration may influence upcoming decisions on interest rates [12][18]. - The balance between stabilizing the economy and maintaining independence from political influence presents a significant challenge for the Federal Reserve moving forward [18][20].