闪评丨9 VS 3，美联储高层政策立场分歧为何加大？

Core Viewpoint - The Federal Reserve has lowered the federal funds rate target range by 25 basis points to between 3.5% and 3.75%, marking the third consecutive rate cut since September 2023 [1] Group 1: Economic Indicators - The unemployment rate has risen to 4.4%, exceeding the potential unemployment rate of 4.2%, indicating a deteriorating job market [2] - The Personal Consumption Expenditures (PCE) index rose by 2.8% year-on-year as of September, with the core PCE price index increasing by 3.3%, close to the 3.4% level [2] - The decision to cut rates reflects a balance between rising unemployment and persistent inflation, which remains above the 2% target [2] Group 2: Federal Reserve Committee Dynamics - In the December meeting, 9 out of 12 Federal Open Market Committee members supported the 25 basis point cut, while 3 opposed it, marking the first instance of dissent in six years [3] - The divergence among committee members indicates significant internal disagreements, with some favoring employment support and others prioritizing inflation control [4] - Political influences, including those from appointees by former President Trump, are pushing for more aggressive rate cuts [5]