Group 1 - The Federal Reserve announced a 25 basis point reduction in the federal funds rate target range to 3.50% to 3.75%, marking the third rate cut of the year and the sixth since September 2024 [1] - The decision to lower rates is influenced by the dual mandate of stabilizing prices and achieving full employment, with recent data indicating a cooling labor market and a notable decline in private sector employment [2] - The Fed's decision-making is complicated by the lack of official employment and inflation data due to the recent government shutdown, leading to reliance on unofficial data and increasing the risk of misjudgment [2] Group 2 - There are internal divisions within the Fed, with the mainstream faction believing the current rate cut is sufficient to address employment risks while maintaining policy flexibility [2] - The more aggressive faction advocates for larger rate cuts, citing a more severe employment situation than reflected in official data, while the cautious faction worries that rapid rate cuts could prolong inflation cycles or trigger asset bubbles [2] - The effectiveness of rate cuts is subject to delays and is constrained by external factors such as global economic slowdown and geopolitical risks [2]
物价上涨 就业趋冷 美联储货币政策遭受多重困扰
Sou Hu Cai Jing·2025-12-11 04:21