Fed Cuts Interest Rates, But Inflation Remains Elephant In The Room
Fed Cuts Interest Rates, But Inflation Remains Elephant In The Room
She notes that while Powell signaled some progress, he avoided providing a clear path forward, emphasizing the Fed's "data-dependent" approach.The Fed's widely anticipated 25 basis point rate cut on Thursday left investors with a sense of relief – but not certainty. According to JPMorgan analyst Maia G Crook. While Federal Reserve Chair Jerome Powell acknowledged the U.S. economy's resilience, inflation remains a nagging issue.
週四的聯儲局廣受期待的25個點子減息讓投資者感到一絲寬慰，但並沒有確定性。根據摩根大通分析師Maia G Crook所說，儘管聯儲局主席傑羅姆·鮑威爾承認美國經濟的韌性，但通脹仍然是一個令人不安的問題。
In the post-meeting press conference, Powell highlighted key growth drivers, including robust consumer spending and a solid labor market.
在會後新聞發佈會上，鮑威爾強調了關鍵的增長驅動因素，包括強勁的消費支出和穩固的勞動力市場。
However, he attributed persistent inflation, or the "elephant in the conference room," largely to lagging pressures, such as shelter and insurance costs, underscoring that the fight against rising prices is far from over.
然而，他將持續存在的通貨膨脹，或者說會議室中的"大象"，主要歸因於滯後的壓力，比如住房和保險費用，強調了對抗價格上漲的鬥爭遠未結束。
She notes that while Powell signaled some progress, he avoided providing a clear path forward, emphasizing the Fed's "data-dependent" approach.
她指出，儘管鮑威爾表明取得了一些進展，但他避免提供清晰的前進道路，強調了聯儲局"數據依賴"的方法。
Read Also: Wall Street Hits Record Highs After Powell's Speech, Lifts Magnificent 7 Stocks To $17 Trillion In Historic Trading
閱讀更多：鮑威爾講話後，華爾街股市創歷史新高，抬高科技七巨頭股票至17萬億美元的歷史交易。
What's Next For December?
12月將會發生什麼？
Crook expects another 25 basis point cut in December, followed by quarterly cuts in 2025, but warns the Fed might hold off if the inflation rate doesn't continue to ease. With Powell leaving options open, she suggests the Fed's caution reflects a genuine concern over stubborn inflation that could delay the easing path investors hope for.
Crook預計12月會再次減息25個點子，隨後在2025年進行季度性減息，但警告稱，如果通脹率不再持續下降，聯儲局可能會暫緩。鮑威爾暫時保持開放選擇，她認爲聯儲局的謹慎反映出他們對頑強通貨膨脹的真正擔憂，這可能會延遲投資者期待的緩和路徑。
ETFs such as the SPDR S&P 500 ETF Trust (NYSE:SPY), the iShares Core S&P 500 ETF (NYSE:IVV) and the Vanguard S&P 500 ETF (NYSE:VOO) provide exposure to broad market U.S. equities.
像SPDR標普500etf信託（紐交所：SPY）、iShares核心標普500etf（紐交所：IVV）和先鋒標普500etf（紐交所：VOO）這樣的etf爲投資者提供了對美國股市廣泛的曝光。
Politics In The Background
政治在幕後
When asked about the impact of the recent election, Powell stressed that policy decisions will remain apolitical, emphasizing that he would not step down if asked and can't legally be removed from his position. Crook notes that Powell's clarification here reaffirms the Fed's independence, reassuring markets wary of potential political pressures.
當被問及最近大選的影響時，鮑威爾強調政策決策將保持中立，強調如果被請求他不會辭職，也不能合法地被解除職務。克魯克指出，鮑威爾在這裏的澄清重申了聯儲局的獨立性，讓對潛在政治壓力擔憂的市場放心。
She sees the Fed as ready for a December cut, but with inflation still looming large, investors should remain cautious. As Powell sidesteps firm guidance, the Fed's data-driven approach means a slower path is on the table if inflation remains stubborn.
她認爲聯儲局已經準備好在12月份減息，但由於通脹仍然嚴重，投資者應保持謹慎。鮑威爾迴避具體指導，聯儲局基於數據驅動的方法意味着如果通脹依然固執，較慢的路徑就在討論範圍內。
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譯文內容由第三人軟體翻譯。
