凌晨，美联储主席重磅发声！

Core Viewpoint - The Federal Reserve announced a 25 basis point cut in the federal funds rate target range to 3.75% to 4.00%, marking the second rate cut in 2025, aligning with market expectations [1] - There is internal division within the Federal Reserve regarding the rate cut, with some officials advocating for a more aggressive approach [1][2] Group 1: Monetary Policy Decisions - The Federal Reserve's decision to lower the interest rate was influenced by the lack of updated macroeconomic data due to the U.S. government shutdown [1] - The Fed plans to end its balance sheet reduction (QT) on December 1 [1] - The current economic indicators suggest moderate economic expansion, with a slight increase in unemployment and rising inflation rates [2] Group 2: Future Rate Cut Expectations - The Fed's October policy statement did not provide guidance on the December monetary policy path, leaving uncertainty about future rate cuts [2] - The dot plot from September indicated the possibility of three rate cuts this year, suggesting December could be the last cut [2] - Fed Chair Powell's comments indicated that the December rate cut is not guaranteed, reflecting significant internal disagreement on future policy actions [2][3] Group 3: Market Reactions - Following Powell's hawkish remarks, U.S. stock indices showed mixed results, with the Nasdaq up 0.55% and the Dow Jones down 0.16% [3] - Market expectations for a December rate cut diminished after Powell's statements, highlighting the impact of the government shutdown on economic data availability [3]