专访斯蒂芬·罗奇：美联储关注风险平衡转变，美股市场或出现修正

Group 1 - The core viewpoint of the article emphasizes the potential for a market correction in the U.S. stock market due to signs of economic slowdown and overvaluation in AI-related stocks [1][10][11] - The U.S. economy is showing signs of slowing down, with consumer spending growth at approximately half of the average level seen in recent years [8][10] - The concentration of market capitalization among the "seven giants" in the AI sector has reached about 35% of the S&P 500, indicating a level of market concentration risk six times greater than that seen during the peak of the internet bubble in March 2000 [10][11] Group 2 - The Federal Reserve is expected to act cautiously regarding interest rate adjustments, influenced by initial signs of weakness in the labor market and external factors like tariffs [4][6] - There is a possibility of a moderate reduction in policy interest rates, but the extent will depend on future data performance [5][6] - The independence of the Federal Reserve is under threat due to political pressures, particularly from actions taken by the Trump administration regarding Fed officials [13]