布米普特拉北京投资基金管理有限公司：哈马克强调通胀担忧 进一步降息前景不明朗

Group 1 - Cleveland Federal Reserve Bank President Beth Harmack expressed ongoing concerns about high inflation levels, emphasizing that monetary policy should continue to focus on suppressing inflation [1][3] - Harmack noted that the current interest rate range is close to her estimate of the neutral rate, which neither stimulates nor suppresses economic growth, and she is more concerned about inflation than employment [5] - The Federal Reserve recently lowered the federal funds rate target range by 25 basis points, marking the second rate cut of the year, after maintaining rates for the first eight months to assess the impact of policy adjustments on the economy [3][5] Group 2 - Harmack highlighted that businesses are facing tough decisions regarding cost management, particularly in relation to rising health and property insurance costs, as well as electricity expenses [6] - A survey from the Cleveland Federal Reserve Bank indicated that businesses with higher reliance on imports are more likely to pass on cost pressures to consumers, with over two-thirds of construction firms planning to transfer most or all tariff-related cost increases to clients [5][6] - Harmack observed that inflation indicators, particularly in core services excluding housing, have shown persistent pressure, suggesting that inflation may be more enduring than anticipated [6]