#美联储如期降息25基点

Powell's 25 basis points: Add some sugar, don't think it can cure a fever.

The Federal Reserve's 25 basis point rate cut this time is like a patient with a fever of 39 degrees receiving a vitamin C pill from the doctor. — It can relieve symptoms temporarily but doesn't solve the root cause. Although the U.S. economy has not fallen into recession, consumer confidence is shaky, the manufacturing PMI has been contracting for months, and the labor market is also starting to cool down. The rate cut acknowledges that "the economy indeed needs to catch its breath," but Powell stubbornly claims, "this is not the beginning of a rate-cutting cycle," which seems more like giving the market a precautionary shot. The market's reaction is very real: stocks rise, the dollar falls, and Bitcoin is directly invigorated. However, the brief euphoria of capital cannot mask the old problems of high debt, high deficits, and high inflation. The gentle 25 basis points cannot outweigh the enormous fiscal hole. This rate cut symbolizes a shift "from hawkish to dovish," but it also exposes the Fed's awkward position — afraid of inflation reigniting, yet also fearing an economic crash. Powell's balancing act is walking on a tightrope.