美联储降息并重启QE，每月接盘400亿美元美债！新一轮放水期来了

Group 1 - The Federal Reserve's decision to lower the federal funds rate by 25 basis points aligns with market expectations, but there are notable internal divisions among voting members regarding future monetary policy directions [1] - Among the 12 voting members, 9, including Chairman Powell, supported the 25 basis point cut, while one member proposed a more aggressive 50 basis point cut, and two members opposed any rate cut at this stage [1] - There is significant disagreement among Federal Reserve officials regarding the interest rate path for 2025, indicating future policy uncertainty [1] Group 2 - The upcoming initiation of a bond purchasing program by the Federal Reserve signals a strong easing stance, commonly referred to as quantitative easing (QE), which directly injects liquidity into the financial market [2][4] - The Federal Reserve plans to purchase $40 billion in short-term U.S. Treasury securities starting December 12, which will provide liquidity to the market [5] - Unlike ordinary market participants, the Federal Reserve injects "new money" into the system when purchasing financial assets, which can significantly amplify the money supply through the money multiplier effect [7][9] Group 3 - Historical data shows that the last round of quantitative easing, which began in March 2020 and ended in early 2022, led to substantial increases in stock indices, with the Dow Jones rising 58% and the Nasdaq increasing by 85% during that period [9] - The previous round of QE was followed by a period of high inflation, with monthly CPI growth exceeding 9%, highlighting the potential inflationary risks associated with such monetary policies [11] - The Federal Reserve's current decision to purchase $40 billion in Treasury securities is seen as a response to a less optimistic economic outlook, with GDP growth projected at 1.7% for the year [12][13] Group 4 - The influence of former President Trump on the Federal Reserve's decisions is notable, as he has indicated intentions to nominate a loyalist to replace Chairman Powell, which could lead to more aggressive easing measures in the future [14]