The US Federal Reserve on Wednesday decided to lower the target range for the federal funds interest rate by 25 basis points to 4.0 - 4.25 percent, the first rate cut since December 2024, Xinhua News Agency reported on Thursday. 据新华社4日报道，美国联邦储备委员会（美联储）于3日决定将联邦基金利率目标区间下调25个基点，至4.0% - 4.25%，这是自2024年12月以来美联储首次降息。 Recent indicators suggest that growth of US economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up. Inflation has moved up and remains elevated to some extent, the Federal Open Market Committee (FOMC), the principal monetary policymaking body of the Federal Reserve System, said in a statement after a policy meeting. 美联储主要货币政策制定机构——联邦公开市场委员会（FOMC）在货币政策会议后发布的声明中表示，近期数据显示，今年上半年美国经济活动增速有所放缓，就业岗位增长势头减弱，失业率小幅上升，通胀水平有所回升且在一定程度上仍处于高位。 "In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 4-1/4 percent," the statement said. "In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks." 声明称：“为实现委员会的政策目标，并鉴于风险平衡发生变化，委员会决定将联邦基金利率目标区间下调25个基点，至4% - 4.25%。在考虑对联邦基金利率目标区间进行进一步调整时，委员会将仔细评估未来经济数据、经济前景演变及风险平衡状况。” The FOMC reiterated its commitment to supporting maximum employment and returning inflation to its 2 percent objective, according to the report. 声明称：“为实现委员会的政策目标，并鉴于风险平衡发生变化，委员会决定将联邦基金利率目标区间下调25个基点，至4% - 4.25%。在考虑对联邦基金利率目标区间进行进一步调整时，委员会将仔细评估未来经济数据、经济前景演变及风险平衡状况。” US stocks opened barely changed on Wednesday, with the Dow Jones Industrial Average up 0.04 percent, the S&P 500 down 0.03 percent and the Nasdaq flat. Major indexes extended losses while Fed chair Jerome Powell made his remarks, before ending mixed at Wedensday's close: the Dow gained 0.57 percent, while the Nasdaq fell 0.33 percent and the S&P 500 slipped 0.1 percent. 3日美国股市开盘涨跌互现，道琼斯工业平均指数上涨0.04%，标准普尔500种股票指数下跌0.03%，纳斯达克综合指数持平。在美联储主席杰罗姆・鲍威尔发表讲话期间，主要股指跌幅扩大，截至当日收盘呈现涨跌分化态势：道琼斯工业平均指数上涨0.57%，纳斯达克综合指数下跌0.33%，标准普尔500种股票指数下跌0.1%。 In Hong Kong, the Hang Seng Tech Index rose 1 percent to 6,397.63. Most major Chinese ADRs advanced, with the Nasdaq Golden Dragon China Index climbing 2.85 percent, as of press time. 香港市场方面，恒生科技指数上涨1%，收于6397.63点。截至发稿时，中国主要美国存托凭证（ADR）多数上涨，纳斯达克金龙中国指数攀升2.85%。The Federal Reserve's latest rate cut comes amid a sluggish US economy, with both job creation and growth showing signs of weakness, Xi Junyang, a professor at the Shanghai University of Finance and Economics, told Global Times on Thursday. 上海财经大学教授奚君羊4日在接受《环球时报》采访时表示，当前美国经济增长乏力，就业创造与经济增长均显现疲软迹象，美联储此次降息正是在此背景下推出的。 US businesses added only 22,000 jobs from July to August, according to the US Bureau of Labor Statistics, and massive revisions to federal jobs data show that the pace of hiring was notably low in summer 2025, according to a CNBC report on Thursday. Meanwhile, the Fed cut rates while personal consumption expenditures inflation stayed at 2.59 percent, which is above the Fed's target rate of 2 percent. 美国劳工统计局数据显示，7月至8月美国企业仅新增2.2万个就业岗位。美国消费者新闻与商业频道（CNBC）4日报道称，对联邦就业数据的大幅修正显示，2025年夏季美国就业岗位增长速度明显放缓。与此同时，尽管美国个人消费支出通胀率仍维持在2.59%，高于美联储2%的目标水平，美联储仍选择实施降息。 "After ending its tightening cycle in 2023, the Fed's move into an easing phase appears a logical step and signals a more neutral monetary policy stance," Xi Junyang said, adding that lower borrowing costs will help reduce financing costs for companies and households, spurring investment and consumption. 奚君羊表示：“在2023年结束紧缩周期后，美联储转入宽松周期是合乎逻辑的一步，这标志着其货币政策立场向中性方向调整。”他补充称，借贷成本下降将有助于降低企业与家庭的融资成本，进而刺激投资与消费。 Globally, countries that have yet to ease may now face greater pressure to follow suit, as keeping rates relatively high could weigh on their economies, Xi Junyang said. 奚君羊指出，从全球范围来看，尚未实施宽松政策的国家如今可能面临更大的跟进压力，因为维持相对较高的利率水平或对本国经济造成拖累。 The cut will also help eases pressure from the China-US interest-rate differential, supporting the yuan's stability and potentially boosting overseas demand for the yuan-denominated assets, the expert said. 这位专家表示，此次降息还将有助于缓解中美利差带来的压力，对人民币汇率稳定形成支撑，并可能提升海外市场对人民币资产的需求。 All 12 members of the FOMC, including Lisa Cook and Stephen Miran, attended the meeting. While 11 members voted for the 25-basis-point cut, Miran voted against the action, preferring a 50-basis-point cut, according to Xinhua. 据新华社报道，包括莉萨・库克与斯蒂芬・米兰在内的联邦公开市场委员会12名成员均出席了此次会议。其中11名成员投票支持25个基点的降息幅度，米兰则投下反对票，主张将利率下调50个基点。 "We see where we are now, and we took that appropriate action today," said Fed Chair Jerome Powell at a press conference after the meeting, per the Xinhua report. Lowering interest rates will help a struggling labor market, where some people are having a hard time finding jobs, Powell said. 新华社援引鲍威尔在会后新闻发布会上的讲话称：“我们对当前经济形势有清晰判断，今日采取的行动是恰当的。”鲍威尔表示，降息将对当前陷入困境的劳动力市场起到帮助作用，目前部分人群面临就业困难。 Along with its policy decision, the FOMC released updated economic projections, forecasting US real GDP growth of 1.6 percent in 2025, 1.8 percent in 2026, 1.9 percent in 2027, and 1.8 percent in 2028. The Fed also projected the US median unemployment rate would remain at 4.5 percent in 2025, ease to 4.4 percent in 2026, and drop further to 4.3 percent in 2027. 与此同时，联邦公开市场委员会还发布了最新经济预测，预计2025年美国实际国内生产总值（GDP）增长率为1.6%，2026年为1.8%，2027年为1.9%，2028年为1.8%；失业率方面，预计2025年美国中位失业率将维持在4.5%，2026年降至4.4%，2027年进一步降至4.3%。 basis points n.基点 /ˈbeɪsɪs pɔɪnts/ moderated v.放缓；减弱 /ˈmɒdəreɪtɪd/ elevated adj.偏高的；升高的 /ˈelɪveɪtɪd/ differential n.差额；差值 /ˌdɪfəˈrenʃl/
