【环球财经】美联储货币政策面临多重困扰

Core Viewpoint - The Federal Reserve has lowered the federal funds rate target range by 25 basis points to between 3.75% and 4.00%, indicating uncertainty in future monetary policy due to internal divisions and external economic pressures [1][3] Group 1: Federal Reserve Actions - The Federal Reserve's recent rate cut marks the fifth reduction since September 2024, reflecting ongoing concerns about employment and inflation [1] - Market expectations for a December rate cut have dropped significantly from 90% to below 70% [2] Group 2: Economic Conditions - The U.S. labor market is showing signs of weakness, with the unemployment rate rising to 4.3% in August, the highest in nearly four years, and non-farm payrolls increasing by only 22,000, far below expectations [3][4] - Inflation remains a concern, with the personal consumption expenditure price index rising 2.7% year-over-year in August, exceeding the Fed's long-term target of 2% [4] Group 3: Internal and External Pressures - There are significant internal disagreements within the Federal Reserve regarding future rate decisions, with some members advocating for larger cuts while others prefer to maintain current rates [3] - The ongoing government shutdown has hindered the collection of key economic data, complicating the Fed's ability to assess the true state of the economy [3][4] Group 4: Relationship with the White House - The relationship between the Federal Reserve and the White House remains tense, with government officials previously pressuring the Fed for more aggressive rate cuts [5] - Concerns have been raised about the potential impact of political pressures on the Fed's independence and its ability to manage inflation effectively [6]