分析认为，此次利率决策的决定权比以往更加集中于鲍威尔手中，其个人判断将主导政策走向。市场正 密切关注美联储是否将采取这种"一次性降息"策略来应对复杂的经济形势。 【最新纸黄金行情解析】 今日纸黄金需重点关注的关键阻力位区间为950元/克至980元/克，而重要支撑位区间则位于930元/克至 950元/克。 【要闻速递】 "美联储传声筒"新分析指出，美联储12月的议息会议将高度依赖于主席鲍威尔的个人决策。 分析指出，当前美联储内部态势为鲍威尔提供了充分的操作空间——若其决定推动降息，盟友已为之铺 平道路，但同时他也可在降息后明确释放"本轮周期到此为止"的信号。这种"降息但不承诺后续"的路 径，将成为平衡经济支持与通胀管控的可行选择。 摘要今日周二（11月25日）亚盘时段，纸黄金目前交投于940元附近，截至发稿，纸黄金暂报945.11元/ 克，涨幅1.20%，最高触及946.15元/克，最低下探933.39元/克。目前来看，纸黄金短线偏向看涨走势。 今日周二（11月25日）亚盘时段，纸黄金目前交投于940元附近，截至发稿，纸黄金暂报945.11元/克， 涨幅1.20%，最高触及946.15元/克，最低下探933.3 ...

Core Viewpoint - The market's pricing of the Federal Reserve's monetary policy easing is considered overly optimistic despite Chairman Powell's indication that a rate cut in December is not guaranteed [1] Group 1: Economic Conditions - The recent two rate cuts were preemptive measures in anticipation of a deteriorating labor market, but further rate cuts may now be limited [1] - The economy is described as being in a relatively strong state, while inflation expectations remain sticky [1] Group 2: Federal Reserve's Strategy - The Federal Open Market Committee (FOMC) continues to monitor the labor market, but inflation has consistently exceeded target levels since March 2021 [1] - Decision-makers may aim to simultaneously manage inflation control while preventing economic downturns, indicating a challenging balance [1]

但他也强调，这一目标不会自动实现，需要采取多方面举措，具体包括"完成银行业联盟建设、建立全 面运作的资本市场联盟、清除欧盟内部贸易中所有现存的重大障碍，以及加大对科技、国防和绿色增长 领域的投资"。 智通财经APP获悉，欧洲央行管理委员会成员Yannis Stournaras表示，该行已成功实现经济"软着陆"—— 在将通胀率控制至2%的同时，保持了经济的韧性。 这位希腊官员指出："这一成就与欧洲央行公信力的构建密不可分。公信力是一项宝贵资产，正因如 此，即便在近期通胀率大幅攀升期间，长期通胀预期也始终维持在接近2%的水平。" 他于周二在雅典举行的一场活动中称，降息与通胀管控"为经济营造了有利环境，有助于推动投资、实 现可持续增长并维护金融稳定"。 目前，欧洲央行官员对当前的消费者物价上涨速度及借贷成本水平表示满意。多数官员明确表示，除非 经济前景出现重大冲击，否则他们不倾向于调整货币政策。 Stournaras认为，全球经济正处于转型阶段，这为欧洲提升欧元的储备货币地位提供了契机。 他表示："对欧洲证券需求的增加，能够提升欧洲经济的流动性与融资能力，进而支持生产性投资，增 强长期竞争力。" ...

Group 1 - Eurozone inflation rate for June reached the European Central Bank's target of 2%, providing a strong basis for pausing the interest rate cuts that have been ongoing for a year [1] - The consumer price index increased by 2% year-on-year, slightly up from 1.9% in May, aligning with market expectations [1] - Core inflation remained at 2.3%, while the service sector inflation rose to 3.3% [1] Group 2 - The strengthening of the euro and declining energy costs are effectively suppressing upward price pressures, while the overall economic weakness in the Eurozone is also a constraining factor [3] - Germany's inflation unexpectedly slowed, while France and Spain saw slight increases, and Italy remained stable [3] - The ECB's chief economist indicated that despite uncertainties from trade policies and geopolitical events, the inflation control process is nearing completion [3] Group 3 - The ECB is expected to pause its interest rate cuts during the upcoming policy meeting, having already reduced the deposit rate to 2% over eight occasions since June 2024 [4] - Policymakers anticipate clearer policy insights from the September meeting, with new quarterly economic forecasts to reveal the actual impact of trade tariffs [7] - The ECB's vice president expressed confidence in achieving price stability, despite potential geopolitical risks and the possibility of inflation remaining below target being low [7]

Core Viewpoint - Kevin Warsh, a potential candidate for the next Federal Reserve Chair, criticizes the Fed for attributing inflation concerns to external factors, suggesting this undermines its credibility [1] Group 1 - Warsh argues that the Fed's assertion that inflation is influenced by external price changes indicates an admission of damage to its own credibility [1] - He highlights that the Fed's large and continually expanding balance sheet may contradict its primary policy tool of setting short-term borrowing rates [1] - Warsh suggests that if the Fed can reduce its money printing, it would be possible to lower policy interest rates [1]