美联储再次降息！四大央行紧急行动，鲍威尔发声，市场反应如何？

Group 1 - The core focus of the article is the simultaneous meetings of major central banks, including the Federal Reserve, Bank of Canada, European Central Bank, and Bank of Japan, highlighting the rarity of such coordinated discussions on interest rates since early 2021 [1][12] - The Federal Reserve's decision to lower the federal funds rate target range by 25 basis points to 3.75% to 4.00% marks the second consecutive rate cut of the year, but internal disagreements among board members have become apparent [3][4] - The contrasting views within the Federal Reserve, with one member advocating for a larger cut to mitigate economic risks and another opposing any change to control inflation, reflect the divided signals in the U.S. economy [5][6] Group 2 - Other central banks have clearer policy focuses compared to the Federal Reserve, with the Bank of Canada facing strong employment data against persistent inflation, while the European Central Bank is likely to maintain its current stance due to stubborn service sector inflation [8][10] - The Bank of Japan's policy direction is constrained by political pressures, delaying expectations for interest rate hikes [10][12] - The divergence in central bank policies underscores the lack of synchronized economic recovery globally, with the Federal Reserve's decisions having significant spillover effects on other economies, particularly emerging markets [12][15] Group 3 - The Federal Reserve's recent rate cut and the decision to end its balance sheet reduction are significant shifts in policy focus, moving from price control to stabilizing liquidity in the financial system [12][14] - The internal divisions within the Federal Reserve reveal deeper contradictions in policy-making, with differing views on the economic outlook and inflation risks influencing future decisions [14][21] - Market reactions to the Federal Reserve's statements indicate a shift in expectations regarding future rate cuts, with a notable decrease in the probability of a December rate cut following the Chair's comments [14][23] Group 4 - The article suggests that the Federal Reserve's rate cuts may create a more accommodating external environment for other economies, particularly benefiting emerging markets and potentially easing pressures on the Chinese yuan [17][19] - The ongoing adjustments in global asset allocation are evident, with market volatility reflecting structural changes in response to the Federal Reserve's actions [19][23] - The current state of the Federal Reserve's rate cut cycle is characterized as entering an observation phase, with uncertainty surrounding future decisions becoming more pronounced [23]