广发证券：美联储短期降息必要性延续低位

Group 1 - The core viewpoint of the report indicates that the December CPI data, despite fluctuations due to the previous government shutdown, remains moderate in its core readings [1] - The market had anticipated technical disruptions caused by the government shutdown and year-end effects, leading to fluctuations in certain categories such as clothing, entertainment goods, and hotel accommodations, which are viewed as base effect corrections rather than trend changes [1] - In the context of "inflation not derailing + employment not losing momentum," the necessity for short-term interest rate cuts is understood to continue at low levels [1]