#美联储如期降息25基点

A 25 basis point rate cut, Powell's little scissors cannot cut away the market's anxiety.

The Federal Reserve has finally cut interest rates by 25 basis points as expected, and the market reacted like a balloon that had been held in for too long: first a "bang" and a surge, then slowly deflating. Although the rate cut has arrived, its impact is too small, more like a "symbolic gesture." After all, the truck of the U.S. economy has already started to skid, and the shadow of inflation has not yet retreated; Powell dare not slam on the gas, nor can he completely let off the brakes.
The optimism in the stock market is a typical "short-term high." Liquidity is slightly loosened, risk appetite is quickly ignited, and technology, cryptocurrency, and gold are all dancing together. But the problem is: if subsequent economic data continues to be weak, the Federal Reserve will have to cut rates twice more to truly support the market.
This rate cut is a signal of a shift, but not an endpoint. Powell hopes that a gentle monetary policy will stabilize the situation, but it may be counteracted by the reality of stagflation. The market is betting on "easing," while the Federal Reserve is betting on a "soft landing"; who loses and who wins will be revealed by the end of the year.