中国外汇投资研究院：美联储未来仍将在通胀与增长间寻求平衡

Core Viewpoint - Despite announcing interest rate cuts, the Federal Reserve remains vigilant about inflation, indicating a complex decision-making environment where it must balance inflation control and employment support [1] Group 1: Federal Reserve's Stance - The Federal Reserve acknowledges internal divisions regarding risk balance, with some members concerned about the lasting impact of tariffs and potential tightening of the labor market leading to increased inflation [1] - Other members focus more on the downside risks of inflation, highlighting the complexity of the current decision-making environment [1] Group 2: Future Policy Path - The Federal Reserve maintains a high degree of flexibility in its policy approach, abandoning a clear preset path due to higher-than-target inflation, varied economic outlooks, and uncertain external shocks [1] - The Fed's strategy now relies heavily on data and adopts a vague guidance approach, reflecting the need to navigate between two boundaries: avoiding premature or rapid easing that could entrench inflation and preventing overly tight policies that could stifle economic expansion and harm the labor market [1]