美联储如期降息，最新解读来了！

Core Viewpoint - The Federal Reserve's recent interest rate cut of 25 basis points to a range of 3.50% to 3.75% aligns with market expectations, but internal divisions among committee members indicate increasing disagreement within the Fed [2][4] Summary by Sections Interest Rate Cuts and Economic Outlook - The Fed's third consecutive rate cut this year totals a 75 basis point reduction, reflecting a clear signal of monetary easing despite a slowing job market and rising unemployment rates [4] - Experts suggest that while there may be further rate cuts in the future, the pace will likely slow down due to persistent inflation and stable unemployment rates [5][6] - The internal dissent within the Fed, with three members voting against the cut, highlights differing views on the necessity and extent of future rate reductions [4][6] Global Asset Allocation and Market Reactions - The weak dollar resulting from the Fed's rate cut is expected to benefit global diversified asset allocation strategies, making risk assets more attractive [7][8] - Following the rate cut, major global asset prices showed varied reactions, with U.S. stocks and precious metals rising, while the dollar index fell to a two-month low [8] - The anticipated continued easing of monetary policy is likely to support the performance of risk assets, including U.S. equities and commodities [8] A-Shares and Domestic Economic Demand - The performance of A-shares is primarily dependent on domestic economic demand, despite the favorable global liquidity environment created by the Fed's actions [10][11] - The Chinese government's commitment to a more proactive fiscal policy and moderately loose monetary policy is expected to support the RMB and attract foreign investment into Chinese assets [10][11] - The bond market may experience short-term volatility due to domestic factors, but overall, the environment remains supportive of a loose monetary policy [11]