Over the past year, the Fed has reduced their target rate by 175 basis points. And it now stands at three and a half and three-quarter percent. Noteworthy, in today’s meeting, there were three dissents. Trump’s man, Stephen Miran, wanted a half a point cut. Obama’s man, Austan Goolsbee, didn’t want any rate cut. And the Kansas City Fed’s Jeffrey Schmid, also voted against the rate cut. Stock markets roared with the Dow up almost 500 points, the S&P 500 almost hit a new high, and bond yields came down, inclu ...

美联储政策立场 - 美联储宣布降息25个基点并暗示未来还将进行两次25个基点的降息[1] - 美联储官员Myren反对本次降息决策认为应降息50个基点而非25个基点[5] 经济表现与预测 - 第二季度国内生产总值增长率为33%亚特兰大联储预测第三季度增长率同样为33%[2] - 美联储预测经济增速将放缓预计今年增长16%明年增长18%后年增长19%[2] - 美联储长期预测显示经济增速将从3%降至2%而政策预期经济增长目标为3%至4%两者存在显著差距[3] 美联储人事变动 - 经济学家Steve Meyer已离开政府部门将在美联储填补一个至少为期四个月的临时空缺职位[4] - 观点认为未来几个月内美联储人事将出现调整以推动经济增长政策的实施[7] 美联储财务状况 - 近年来美联储因资产与负债不匹配已亏损近2000亿美元[6] - 美联储纽约分行的货币管理机构每日亏损因其向银行支付45%的利息而投资组合收益率仅约25%[6] - 美联储债券投资组合出现严重亏损部分估计损失达2500亿美元[7]