FOMC Meeting Highlights:

The Federal Reserve implemented hawkish rate cuts and hinted at a pause in rate reductions, maintaining the outlook for interest rates unchanged, with a projected one more cut by 2026.
The Federal Reserve will begin purchasing $40 billion worth of Treasury securities on December 12, with maturities of up to three years, emphasizing that these are reserve management operations rather than quantitative easing.
Powell's Press Conference Powell's stance was more dovish than expected. He stated that since September, the 75 basis points of easing have brought monetary policy to a neutral stance, and the Fed can wait for new data. He described this decision as “not easy” and noted that the labor market is gradually cooling.
Powell added that key data will be released before January, the impact of artificial intelligence has not yet appeared in labor market indicators, non-farm employment growth may have been overestimated by about 60,000 jobs (meaning employment growth has been slightly negative since April), the labor market faces downside risks, tariffs are the main cause of inflation overshoot, and Treasury purchases may remain high in the coming months.