美联储决议全文：降息25个基点，30天内购买400亿国库券

Core Viewpoint - The Federal Reserve has lowered the benchmark interest rate by 25 basis points to a range of 3.50%-3.75%, marking the third consecutive meeting of rate cuts, while also indicating a cautious approach to future monetary policy adjustments [4][6]. Group 1: Interest Rate Decision - The Federal Reserve's decision to cut the federal funds rate is based on a moderate expansion of economic activity, a slowdown in job growth, and rising unemployment rates [6][7]. - The long-term goal remains to achieve maximum employment and a 2% inflation rate, with the committee acknowledging increased risks to employment in recent months [6][7]. - The median dot plot indicates a cumulative rate cut of 25 basis points by 2026 [10]. Group 2: Asset Purchases - The Federal Reserve plans to purchase $40 billion in Treasury securities over the next 30 days to maintain adequate reserve supply [5][21]. - This move is a response to recent volatility in the short-term lending market, which is crucial for the overall financial system [22]. - The expansion of the balance sheet is not part of an economic control strategy but aims to alleviate pressure in the repurchase market by increasing banks' access to reserves [22][23]. Group 3: Economic Outlook and Data Monitoring - Economists express concerns about the potential for rising unemployment and inflation, with upcoming employment data expected to influence future policy decisions [17][18]. - The Federal Reserve is closely monitoring inflation indicators, with the current key inflation metric at 2.8%, above the target of 2% [20]. - The committee is prepared to adjust monetary policy as necessary based on evolving economic conditions and risks [6][21].