他说，正如美联储9月"褐皮书"所指出的，企业仍普遍认为不确定性正在压制他们的预期。消费者和企 业信心指标在春季大幅下滑，之后有所回升，但仍低于年初水平。劳动力供给和需求双双明显放缓，就 业下行风险增加。 鲍威尔说，由于就业风险加大，美联储17日降息25个基点。但通胀走势的不确定性依然很高。关税上调 可能需要一些时间在供应链中传导，可能会在未来几个季度表现为通胀上升。 美联储17日结束为期两天的货币政策会议，宣布将联邦基金利率目标区间下调25个基点到4.00%至 4.25%之间。这是美联储2025年第一次降息，也是继2024年三次降息后再次降息。此次会议上，由美国 总统特朗普提名、刚刚出任美联储理事的白宫经济顾问委员会主席斯蒂芬·米兰投了唯一反对票，他认 为此次降息幅度应该达到50个基点。 新华财经纽约9月24日电 美国联邦储备委员会主席鲍威尔23日表示，美国经济面临通胀上升与就业下行 的"双向风险"，贸易、移民、财政和监管政策的重大变化对美国经济的影响有待观察。 鲍威尔当天在罗德岛州出席商会活动时说，短期内美国通胀面临上行风险，就业面临下行风险，这是一 个充满挑战的局面。如果降息"过于激进"，可能导致2%的通 ...

Core Points - The U.S. economy is facing "dual risks" of rising inflation and declining employment, with significant changes in trade, immigration, fiscal, and regulatory policies yet to be observed [1] - Short-term inflation risks are on the rise while employment risks are declining, creating a challenging situation [1] - The Federal Reserve's recent interest rate cut of 25 basis points reflects increased employment risks, but inflation trends remain highly uncertain [1][2] Economic Indicators - Consumer and business confidence indicators saw a significant drop in the spring but have since recovered, although they remain below early-year levels [1] - Labor supply and demand have noticeably slowed, increasing the risk of employment decline [1] Federal Reserve Actions - The Federal Reserve lowered the federal funds rate target range by 25 basis points to between 4.00% and 4.25%, marking the first rate cut of 2025 [2] - This decision follows three rate cuts in 2024, with one dissenting vote advocating for a larger cut of 50 basis points [2]