Fed Resumes Rate Cuts, Markets React with Volatility
美联储重启降息，市场震荡加剧
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.
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。
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.
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。
The post-meeting statement noted that U.S. economic activity had “slowed somewhat,” with employment growth clearly decelerating while inflation remained elevated.
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。
The dot plot revealed widening divisions among Fed officials over the future path of interest rates.
点阵图显示，美联储内部对未来利率走向分歧加大。
After the announcement, U.S. stocks rose initially but then fell, Chinese ADRs pared gains, the U.S. dollar plunged, and the renminbi strengthened.
降息决定公布后，美股先涨后跌，中概股涨幅收窄，美元大幅跳水，人民币走强。