逐句讲解 | 美联储重启降息，市场震荡加剧

<h1>Fed Resumes Rate Cuts, Markets React with Volatility</h1><h1>美联储重启降息，市场震荡加剧</h1><p>The Federal Reserve announced on September 18 at 2 a.m. that it would cut the benchmark interest rate by 25 basis points to 4.00%–4.25%, marking the restart of an easing cycle.<br>美联储在9月18日凌晨宣布，将基准利率下调25个基点至4.00%—4.25%，开启新一轮降息周期。</p><p>Meeting records show that the Federal Open Market Committee approved the decision with 11 votes in favor and 1 against, with the sole dissent calling for a 50-basis-point cut.<br>会议记录显示，联邦公开市场委员会以11票赞成、1票反对通过该决定，唯一的反对票主张降息50个基点。</p><p>The post-meeting statement noted that U.S. economic activity had “slowed somewhat,” with employment growth clearly decelerating while inflation remained elevated.<br>会后声明指出，美国经济活动“有所放缓”，就业增速明显放慢，而通胀依然处于高位。</p><p>The dot plot revealed widening divisions among Fed officials over the future path of interest rates.<br>点阵图显示，美联储内部对未来利率走向分歧加大。</p><p>After the announcement, U.S. stocks rose initially but then fell, Chinese ADRs pared gains, the ...