美联储的赌局！降息25基点与停止缩表，为何市场反而恐慌？

Group 1 - The Federal Reserve's decision to lower interest rates by 25 basis points and halt balance sheet reduction has led to significant market volatility, with immediate impacts on stock prices, gold, and Bitcoin [1][3][7] - The Fed's cautious language in its statement reflects concerns about the labor market, with new job additions dropping to an average of 29,000 per month from June to August, significantly below pre-pandemic levels [3][5] - The decision to stop quantitative tightening (QT) is a response to declining bank reserves, which have fallen to $2.93 trillion, the lowest since January 2025, indicating a shift from "excess liquidity" to "moderate liquidity" [5][9] Group 2 - The market's reaction to the Fed's dual actions of rate cuts and halting QT has been mixed, with historical data suggesting that the end of QT typically supports stock prices, particularly in the tech sector [7][9] - Political pressures are influencing the Fed's decisions, with former President Trump criticizing the Fed's pace and calling for more aggressive easing to support the stock market [7][11] - The Fed's independence is under scrutiny, with potential implications for future monetary policy as political demands may conflict with economic data, particularly in the context of ongoing government shutdowns [9][11]