货币政策决定 - 美联储联邦公开市场委员会以10-2的投票结果批准将基准隔夜借款利率下调至3.75%-4%的区间 [2] - 这是美联储连续第二次批准降息 [1] - 美联储宣布将于12月1日结束其资产购买缩减过程即量化紧缩 [2] 决策分歧与背景 - 理事斯蒂芬·米兰再次投下反对票 其倾向于美联储以更快的速度进行半百分点降息 [3] - 堪萨斯城联储主席杰弗里·施密德也投下反对票 但其原因是倾向于美联储根本不要降息 [3] - 此次降息是在政府停摆导致近期经济数据缺失 美联储几乎是在"盲目飞行"的背景下进行的 [1][3] 经济状况评估 - 美联储声明指出现有指标表明经济活动一直在以温和速度扩张 [5] - 声明称今年以来就业增长放缓 失业率略有上升但截至8月仍保持低位 [5] - 通胀自年初以来有所上升并且仍然有些高企 年度消费者价格指数率为3% [5][6] 资产负债表政策 - 美联储将结束其缩减所持债券规模的过程 该过程已将其持有的美国国债和抵押贷款支持证券削减了约2.3万亿美元 [7][8] - 美联储的资产负债表规模为6.6万亿美元 [7] - 伴随决策的一份实施说明指出 美联储将把到期证券的收益再投资于短期票据 从而缩短其整体投资组合的久期 [9] 市场环境与历史背景 - 主要平均指数尽管波动 但在大型科技股进一步上涨和强劲财报季的推动下 创下了一系列历史新高 [11] - 历史表明 当美联储在此类情况下降息时 市场会继续上涨 [12] - 在新冠危机期间 美联储将其资产负债表规模从略高于4万亿美元扩大至接近9万亿美元 [10]

7 hours ago Fed Meeting Today: Interest Rates, Quantitative Tightening, Powell Speech, and More Why the Fed May Stop Shrinking Its Balance Sheet Sooner Than Expected Last Updated: CONCLUDED Earlier this month, Federal Reserve Chair Jerome Powell hinted that the Fed could soon end its quantitative tightening program, the process of steadily shrinking its balance sheet. Now, some analysts think it could stop as soon as today. By Nicole Goodkind The balance sheet is central to how the Fed controls monetary pol ...

Jerome Powell at the Federal Reserve Board open meeting in Washington, DC, on Oct. 24. Treasuries edged lower ahead of a widely expected interest-rate cut by the Federal Reserve with traders focused on comments by Chair Jerome Powell for clues on the central bank’s next move. Yields on 10-year notes rose two basis points to 3.99% after falling the previous two sessions, while monetary policy-sensitive two-year notes held steady around 3.49% Wednesday morning. Most Read from Bloomberg Traders have fully ...

Ever since the challenges of the COVID-19 pandemic, a key headwind that has stymied multiple administrations is inflation. Sure, the economy has been able to bounce back from the worst of the crisis, but the response wasn't free of consequence. Like a calculated gambit in chess, policymakers essentially sacrificed materiel for positional gain.Based on the latest developments, the gamble may have paid off.According to the latest CPI report, price pressures edged up in September but at a slower-than-expected ...

No one will be surprised if (when?) the Federal Reserve announces an interest-rate cut today. Traders put the odds of a 0.25% reduction at 99.9%, according to CME Group’s FedWatch tool. It’s the most straightforward call the central bank will make all year. The next one won’t be so easy, so all eyes will be on any hint to the Fed’s plans for December, when the monetary policy committee holds its next meeting. SUBSCRIBE:  Receive more of our free The Daily Upside newsletter. READ ALSO: Wall Street GOAT: Nv ...

Australia's inflation accelerated in the third quarter, with consumer prices rising 3.2% from a year earlier — the fastest pace in more than a year — the Australian Bureau of Statistics said Wednesday. The increase topped the 2.1% rise in the second quarter and came in above the 3% forecast by economists polled by Reuters.The figure also pushed inflation beyond the Reserve Bank of Australia's 2%–3% target band for the first time since the second quarter of 2024, underscoring the challenge policymakers face ...

Jerome Powell, chairman of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Fall meetings at the IMF headquarters in Washington, DC, US, on Thursday, Oct. 16, 2025. Kent Nishimura | Bloomberg | Getty ImagesThe easy part for the Federal Reserve on Wednesday will be announcing an interest rate cut when it wraps up its two-day policy meeting. The hard part will be taking care of other details that are presenting substantial challenges to policymaking these days.Markets are as ...

By Karen Brettell NEW YORK (Reuters) -The Japanese yen gained on Tuesday, rebounding from seven consecutive days of losses against the U.S. dollar, after comments from a Japanese minister and U.S. Treasury Secretary Scott Bessent eased some concerns about more expansionary fiscal and monetary policy in the country. Japan's new economic revitalization minister, Minoru Kiuchi said that Japan can boost its long-term potential growth by stimulating demand and keeping the labor market tight while being mindfu ...

Do you think that concentration is is indicative of a bubble. >> This is the big question, right. Um >> I know eager to hear your thoughts.>> There's a um there's a lot of bubble stuff going on. I have a bubble indicator um which is a composite of things that would take you too long to explain. And the bubble indicator is relatively high.It has to do not only with the pricing, has to do with who owns it, how the financing is taking place and so on. And it's a relatively high uh um level of of of bubble. Um ...

Friday's cooler thanex expected CPI print is boosting expectations for the Fed to trim rates by a quarter point at this week's meeting. Joining us right now is former Cleveland Fed President Loretta Mester. She's also a CNBC contributor.And Loretta, what do you think. The the numbers were a little weaker than anticipated, but you're still looking at uh inflation up better than 3% on a year-over-year basis. >> Yeah, Becky, thanks.Good morning. You're you're exactly right. If you looked at the headlines comin ...