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In recent days, the US inflation rate has slowed for the fifth consecutive month to 2.5%, the lowest level since February 2021. The market generally believes that there is a high possibility of a rate cut in September. There is intense debate in the market over whether the Fed will cut rates by 0.25% or 0.5% at this meeting. All eyes are on the Fed's interest rate meeting in September.
At 2 am Beijing time on September 19, the US Federal Reserve's FOMC announced a drop in the target range of the federal funds rate from5.25%—5.50%to4.75%—5.0%basis points. This is the first rate cut by the Fed since the start of the tightening cycle in March 2022.In the current situation where expectations are rising,basis points.
Let's summarize the important information from Powell's press conference.
1. Dual Mandate: The Fed focuses on achieving the dual mandate of maximizing employment and stabilizing prices to benefit the American people.
2. Economic Conditions: The overall US economy is strong, with significant progress towards employment and inflation targets. The labor market has cooled from overheating, and the inflation rate has dropped from 7% to 2.2%.
3. Policy Adjustment: The Federal Open Market Committee has decided to reduce the policy rate by 0.5 basis points to reduce policy constraints, support the economy, and enhance the labor market.
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