#美联储FOMC会议

• Policy stance is steady but cautious

The FOMC emphasizes that inflation is still slightly high and the labor market is resilient, therefore there is currently no urgent need to cut interest rates.

• Data is the core of policy guidance

Future interest rate cuts will be based on data, with particular attention to inflation, employment, and uncertainties brought by tariffs.

• Market expectations adjustment

Although the market expects a possible rate cut once or twice throughout the year, most judgments suggest that the rate cut cycle may not start until September or later; the June meeting will not provide new guidance for rate cuts .

• Policy transmission emphasizes independence

Despite facing pressure from President Trump to cut rates, the Federal Reserve reiterates that monetary policy should be independently decided and not subject to political interference.