南财快评｜降息之外，关键时期的美联储面临的关键问题

Group 1 - The Federal Reserve decided to lower the federal funds rate target range by 25 basis points to 3.5%-3.75% during the last FOMC meeting of the year, while also announcing the purchase of short-term government bonds to maintain ample reserve levels [1] - The median forecast for U.S. economic growth was raised to 1.7% for this year and 2.3% for next year, while inflation forecasts were lowered to 2.9% and 2.4% for PCE and core PCE respectively for the next two years [1] - The decision to lower rates was in line with market expectations, and the optimistic tone from Fed Chair Powell during the press conference led to a positive market reaction [2] Group 2 - The Fed faces a challenging situation with high inflation and potential job losses, creating a dilemma between controlling inflation and supporting employment [3] - The Fed's reliance on economic data has been compromised due to budget cuts and staffing shortages, leading to delays in key economic data releases, which complicates their decision-making process [3] - The independence of the Federal Reserve is under threat, with recent actions from the White House raising concerns about its ability to control inflation and maintain market stability [4] Group 3 - Despite the rate cut, U.S. Treasury yields rose before the Fed meeting, indicating market concerns about the potential for a change in leadership at the Fed and its impact on inflation control [5] - The nomination of a new Fed Chair could face significant hurdles, including Senate approval and differing opinions among Fed officials, which may complicate the implementation of rate cuts as desired by the White House [5]