Group 1 - The core viewpoint is that the recent private sector employment data in the U.S. is surprisingly positive, but current interest rates remain high, suggesting a need for potential further reductions [1][2] - According to ADP Research Institute, 42,000 jobs were added in October, significantly exceeding the median forecast of 30,000, while the previous month's data was revised down by 29,000 [1] - Milan has consistently advocated for further rate cuts, arguing that the current policy is insufficient, and he voted against the recent 25 basis point cuts, suggesting a more aggressive 50 basis point reduction [1][2] Group 2 - Milan's stance is considered more aggressive, viewing the current policy as overly tight and suggesting that maintaining high rates poses unnecessary risks [2] - His comments are interpreted as increasing the likelihood of further rate cuts within the year, which could lead to higher bond prices and lower yields, benefiting interest-sensitive assets like technology stocks [2] - The overall slowdown in job growth and wage increases indicates a shift in the labor market dynamics, potentially transitioning from a "seller's market" to a "buyer's market," which could further support Milan's argument for lower rates [2]
美联储理事米兰重申当前利率过高 未来应考虑进一步下调
Zhi Tong Cai Jing·2025-11-05 22:27