Core Viewpoint - The relationship between the Federal Reserve's dual policy goals of maintaining price stability and achieving full employment is under significant tension, which was not anticipated by the Federal Reserve itself [1] Group 1 - The Federal Reserve is facing challenges in balancing its two main objectives: price stability and full employment [1] - The current economic environment has led to unexpected strains on the Federal Reserve's policy framework [1] - The implications of this tension could affect future monetary policy decisions [1]

鲍威尔：如果特朗普关税维持现状，美联储无法在（价格+就业这两大）政策目标上取得进展。 在这样的形势下，美联储无法采取"先发制人"的行动。 ...

客户们已经感觉到，他们对固定收益资产的配置偏低。 摩根大通固收Michele：美联储侧重于政策目标（通胀+就业）中价值更大的那个。 ...