美联储今年还降息吗

Core Points - The Federal Reserve executed its second interest rate cut of the year, lowering the federal funds rate target range by 25 basis points to between 3.75% and 4% [3][4] - The Fed announced it will stop reducing its balance sheet starting December 1, marking a significant shift in its liquidity management policy [4][5] - Fed Chairman Powell described the rate cut as a "risk management" move rather than a "relief" operation, indicating a cautious approach due to ongoing economic uncertainties [4][6] Interest Rate Cut and Balance Sheet Reduction - The FOMC's decision to cut rates is the fifth reduction since September 2024, reflecting ongoing concerns about the labor market and inflation [3][4] - The Fed's total assets have been reduced from approximately $9 trillion to about $6.6 trillion during the quantitative tightening period [5] Market Reactions - Following the announcement, U.S. stock indices experienced volatility, with the Dow Jones falling by 0.16% and the Nasdaq rising by 0.55%, indicating mixed market sentiment [6] - The dollar index rose sharply, while the yield on two-year Treasury bonds increased by about 10 basis points [6] Future Rate Cut Expectations - Analysts express cautious optimism regarding future rate cuts, with expectations that the Fed may continue to lower rates in response to economic conditions [7][9] - Powell's comments suggest significant internal disagreement within the Fed regarding future rate cuts, adding uncertainty to the outlook [8][9] Economic Data and Uncertainty - The ongoing government shutdown has led to delays in the release of key economic data, complicating the Fed's decision-making process [4][9] - Despite inflation concerns, the focus has shifted to employment issues, with predictions of continued rate cuts into 2026 [9]