半两财经｜美联储年内连续第三次降息

Group 1 - The Federal Reserve announced a reduction in the federal funds rate target range to 3.5% to 3.75%, marking the third consecutive rate cut since September and the sixth cut since the current easing cycle began in September 2024 [1] - The Federal Open Market Committee stated that while U.S. economic activity is expanding moderately, job growth has slowed, the unemployment rate rose in September, and inflation remains elevated, indicating a high level of uncertainty regarding the economic outlook [1] - Fed Chairman Powell indicated that the federal funds rate is now within a neutral range and that further observations of economic conditions are warranted, attributing inflation above the Fed's target mainly to tariffs imposed by the U.S. government [1] Group 2 - Morgan Stanley's analysis suggests that the resumption of the Fed's rate-cutting cycle will facilitate the return of overseas funds to A-shares and Hong Kong stocks, benefiting the innovative pharmaceutical sector as increased overseas investment activities will aid domestic companies in expanding into international markets [2]