#美联储9月会议纪要 The Fed’s September meeting minutes are here 👇👇
① The September 25-basis-point rate hike was approved unanimously, bringing the rate to 3.75%–4.00%
② Most officials believe another rate hike may be needed this year (though there’s no clear urgency to hike in October)
③ Inflation risks remain tilted to the upside; energy, tariffs, and the AI investment boom could all push prices higher
④ The labor market remains stable, with unemployment at around 4.1%. For now, there’s nothing forcing the Fed to pivot to easing
⑤ Bank reserves remain ample, but that doesn’t mean the Fed is turning the “money taps” back on
The short-term outlook is clear: high interest rates weigh on risk appetite, but the absence of a clear economic downturn also lowers the likelihood of a liquidity crisis.
What will really drive the market next is inflation data and the late-October policy meeting.
① The September 25-basis-point rate hike was approved unanimously, bringing the rate to 3.75%–4.00%
② Most officials believe another rate hike may be needed this year (though there’s no clear urgency to hike in October)
③ Inflation risks remain tilted to the upside; energy, tariffs, and the AI investment boom could all push prices higher
④ The labor market remains stable, with unemployment at around 4.1%. For now, there’s nothing forcing the Fed to pivot to easing
⑤ Bank reserves remain ample, but that doesn’t mean the Fed is turning the “money taps” back on
The short-term outlook is clear: high interest rates weigh on risk appetite, but the absence of a clear economic downturn also lowers the likelihood of a liquidity crisis.
What will really drive the market next is inflation data and the late-October policy meeting.