Group 1 - The market is excited about the continuous decline in funding costs, with all stock markets rising sharply following the Fed's interest rate cut [1] - The Fed's decision to lower the federal funds rate by 25 basis points was expected, but the market's reaction was surprising, leading to new highs in major stock indices [2] - The employment market shows concerning data, with an average of only 29,000 new jobs created per month over the past three months, while the Fed believes 50,000 new jobs are needed monthly for economic stability [2] Group 2 - The Fed's focus has shifted to employment, but there is no immediate need for "firefighting" in the labor market, despite inflation rebounding [3] - The Bank of Japan's decision to maintain interest rates at 0.5% was anticipated, but two members voted against it, suggesting potential future rate hikes [4] - The Bank of Japan's announcement to sell ETFs accumulated during quantitative easing is significant, although it will take over 120 years to sell at the current pace [4][5]
陶冬：全球股市齐涨，好像忘了美联储为什么降息
Di Yi Cai Jing·2025-09-22 02:08