9月美联储FOMC会议点评：美联储如期降息

Group 1: Federal Reserve Actions - The Federal Reserve announced a 25 basis points rate cut, lowering the federal funds rate target range from 4.25%-4.50% to 4.00%-4.25%[1] - This is the first rate cut since December 2024, aligning with market expectations[1] - The FOMC's statement emphasized a slowdown in economic activity, removing previous references to net export volatility[1] Group 2: Economic Indicators - The statement noted that employment growth has slowed, with a slight increase in the unemployment rate, which remains low[2] - Recent employment data showed August non-farm payrolls below expectations, contributing to the decision to cut rates[2] - Current inflation rates are above the Fed's long-term target of 2%, with core PCE prices showing upward pressure[2] Group 3: Future Projections - The dot plot indicates that most Fed officials expect two more rate cuts in 2025, with a significant increase in the number of officials anticipating three cuts this year[4] - The median federal funds rate projections for 2026 and 2027 were lowered to 3.4% and 3.1%, respectively, reflecting expectations of ongoing economic pressure[4] - Powell described the rate cut as a "risk management measure" to balance employment and inflation amid a complex economic landscape[4]