美联储决议全文：降息25基点并宣布缩表，两个反对票显示分歧加剧

Core Viewpoint - The Federal Reserve has lowered the benchmark interest rate by 25 basis points to a range of 3.75%-4.00%, marking the second consecutive rate cut, aligning with market expectations [1][2]. Group 1: Interest Rate Decision - The Federal Open Market Committee (FOMC) decided to reduce the federal funds rate target range by 25 basis points due to a moderate expansion in economic activity and rising inflation [2]. - The decision reflects a balance of risks, with increased downward risks to employment noted in recent months [2]. Group 2: Voting Members - The members supporting the monetary policy action include Jerome H. Powell, John C. Williams, and several others, while Stephen I. Miran and Jeffrey R. Schmid opposed the decision [3]. Group 3: Asset Purchase Program - The FOMC announced the end of its balance sheet reduction program effective December 1, with current monthly reductions of $50 billion in U.S. Treasuries and $35 billion in mortgage-backed securities [1][2]. - After this date, the principal repayments from mortgage-backed securities will be reinvested into short-term U.S. Treasuries [1].