观天下丨美国再次一票否决加沙停火决议草案；全球水循环日趋紊乱

Core Viewpoint - The Federal Reserve has made a policy adjustment by lowering the federal funds rate target range by 25 basis points to between 4.00% and 4.25% due to economic slowdown and rising inflation risks [6][7]. Group 1: Federal Reserve's Decision - The Federal Open Market Committee decided to lower the federal funds rate target range by 25 basis points, marking the first rate cut of the year [6]. - Economic indicators show a slowdown in economic activity and job growth, with inflation rates rising, prompting the Fed to adjust its policy focus towards employment [6][7]. - The Fed's decision reflects a balance between rising inflation risks and declining employment risks, as stated by Chairman Powell [6][8]. Group 2: Economic Indicators - Recent employment data revealed that non-farm payrolls increased by only 22,000 in August, a significant drop from the revised 79,000 in July, with the unemployment rate rising to 4.3%, the highest in nearly four years [7]. - The Labor Department revised down the projected job growth for the next year by 911,000, raising concerns about the weakness in the U.S. job market [7]. Group 3: Future Projections - The Fed's economic forecast indicates an upward adjustment of the GDP growth rate to a median of 1.6% and an unemployment rate expectation of 4.5% [8]. - The dot plot suggests that the federal funds rate may drop to a median of 3.6% by the end of the year, indicating the possibility of two more rate cuts [8]. Group 4: Internal Dynamics and Pressures - The internal voting showed 11 members supported the 25 basis point cut, while only one member, Stephen Milan, opposed it, advocating for a 50 basis point cut, reflecting some division influenced by external pressures [8]. - Chairman Powell emphasized the Fed's commitment to maintaining its independence amidst pressures from the government and market [8].