美联储年内首次降息，下调基准利率25个基点

Core Viewpoint - The Federal Reserve has announced its first interest rate cut of the year, reducing the benchmark rate by 25 basis points to a target range of 4%-4.25% [1] Economic Activity - Recent data indicates that economic activity has grown moderately in the first half of the year [1] - Employment growth has slowed, and the unemployment rate has slightly increased but remains low [1] - Inflation levels have risen and continue to exceed expectations [1] Federal Reserve's Commitment - The Federal Reserve emphasizes its commitment to maximizing employment and achieving a long-term inflation target of 2% [1] - The Fed will continue to carefully assess various data, economic outlooks, and risk balances [1] Asset Holdings - The Federal Reserve has clarified its intention to continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities [1]