凌晨！全线跳水！美联储宣布：降息！鲍威尔重磅发声

Core Viewpoint - The Federal Reserve announced a 25 basis point interest rate cut, lowering the federal funds rate from 4.00%-4.25% to 3.75%-4.00%, marking the second rate cut of the year and the second consecutive cut since September [1][3][5]. Summary by Sections Interest Rate Decision - The decision to cut rates was not unanimously supported by the Federal Open Market Committee (FOMC), with two members voting against the cut, highlighting increasing internal divisions within the Fed [5]. - The Fed will end its balance sheet reduction (quantitative tightening) on December 1, after three and a half years of implementation [5][6]. Economic Indicators - Current indicators suggest that the U.S. economy is expanding at a moderate pace, with employment growth slowing and a slight increase in the unemployment rate, although it remains low [6][9]. - Inflation has shown signs of recovery and remains slightly elevated, with the Fed closely monitoring risks to its dual mandate of employment and price stability [6][11]. Powell's Statements - Powell indicated that the economic outlook has not changed significantly, but the government shutdown could temporarily hinder economic activity [9][10]. - He emphasized that the decision for a rate cut in December is not guaranteed and that the Fed may need to be cautious due to a lack of data during the government shutdown [10][11]. Market Reactions - Following Powell's press conference, U.S. stock indices experienced volatility, with the Nasdaq initially dropping but later recovering, while the Dow and S&P 500 saw reduced losses [13][14]. - The dollar index rose sharply, reflecting market adjustments to the Fed's announcements and Powell's comments [16][19]. Bond Market Impact - The yield on the two-year U.S. Treasury note increased by 10 basis points, while the yield on the ten-year note also rose, indicating market reactions to Powell's "hawkish" remarks [19].