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美联储本月降息预期或落空
Jin Tou Wang· 2025-07-28 05:46
Group 1 - The dollar index continues to show an upward trend, currently reported at 97.70 with a slight increase of 0.03% [1] - The Federal Reserve is expected to maintain interest rates this month, but plans for a high-rate policy exit are underway, with no rate cuts anticipated on July 30 [1][2] - Employment growth remains strong, but concerns about underlying economic vulnerabilities are emerging, particularly as nearly 90% of new jobs in recent years have come from government, leisure, hospitality, and healthcare sectors [2] Group 2 - Core economic growth engines such as technology and manufacturing are underperforming, leading to a decline in consumer confidence and spending [3] - The impact of Trump's tariff comments on inflation may be temporary, with stable energy prices and moderate wage growth expected to alleviate inflationary pressures [4] - The market is speculating on a potential rate cut in September, but it may be premature, with the Fed possibly waiting until December to act [4] Group 3 - The dollar's performance has been volatile this month, but short-term yields are expected to rise, providing support for the dollar, especially if Powell maintains a hawkish stance [4] - Strong non-farm payroll data could further enhance the dollar's rebound potential, particularly against low-yield currencies like the yen and Swiss franc [4] - Current resistance for the dollar index is at 97.90, with support around 97.00 [5]