Odaily星球日报讯 美联储主席鲍威尔上周明确表示，即使特朗普想解雇他，他也不认为特朗普有权这样做。但有一个方面他并没有回答，即特朗普提出的经济政策可能会如何影响美联储对 2025 年一系列额外降息的预期。鲍威尔上周在美联储宣布今年第二次降息后对记者说，“目前还没有什么可以模拟的。” 许多经济学家已经开始降低他们对美联储明年降息次数和速度的预期，原因是新的特朗普政府提出的这些政策。鲍威尔拒绝透露美联储 2024 年 12 月最后一次会议可能会发生什么，他说：“我们只能看看数据带我们去哪里。我们还有六周的数据要看。”（金十）

Odaily星球日报讯 美联储主席鲍威尔上周明确表示，即使特朗普想解雇他，他也不认为特朗普有权这样做。但有一个方面他并没有回答，即特朗普提出的经济政策可能会如何影响美联储对 2025 年一系列额外降息的预期。鲍威尔上周在美联储宣布今年第二次降息后对记者说，“目前还没有什么可以模拟的。”许多经济学家已经开始降低他们对美联储明年降息次数和速度的预期，原因是新的特朗普政府提出的这些政策。鲍威尔拒绝透露美联储 2024 年 12 月最后一次会议可能会发生什么，他说：“我们只能看看数据带我们去哪里。我们还有六周的数据要看。”（金十）

分析：特朗普2.0正在让美联储降息路径变得复杂

Odaily Planet Daily Report: Last week, Federal Reserve Chairman Powell clearly stated that even if Trump wants to fire him, he does not believe Trump has the right to do so. However, there is one aspect he did not answer, which is how Trump's proposed economic policies may affect the Fed's expectations for a series of additional rate cuts by 2025. Powell said to reporters after the Fed announced its second rate cut of the year last week, "There is nothing to model at this point." Many economists have already begun to lower their expectations for the number and pace of rate cuts by the Fed next year, due to these new policies proposed by the Trump administration. Powell refused to reveal what might happen at the Fed's last meeting in December 2024, saying, "We'll just have to see where the data takes us. We've got six more weeks of data to look at."

Federal Reserve Chairman Powell clearly stated last week that even if Trump wants to fire him, he does not believe Trump has the right to do so. However, there is one aspect he did not answer, which is how Trump's proposed economic policies may affect the Federal Reserve's expectations for a series of additional rate cuts in 2025. Powell told reporters last week after the Federal Reserve announced its second rate cut of the year, "There is nothing to model at the moment." Many economists have already begun to lower their expectations for the number and pace of rate cuts by the Federal Reserve next year, due to these new policies proposed by the Trump administration. Powell refused to reveal what might happen at the Federal Reserve's last meeting in December 2024, saying, "We can only see where the data takes us. We have six weeks of data to look at."

Analysis: Trump 2.0 is complicating the Fed's path to rate cuts

Odaily Planet Daily reported that Jupiter Asset Management stated in a report that investors are facing conflicting macroeconomic signals, which could lead to increased volatility in the bond market. The firm's investment manager said that while the US economy remains resilient, if real interest rates remain at a relatively high level for an extended period, demand may slow. Although the Federal Reserve has begun to cut interest rates, given the strong momentum of the US economy, the market has already lowered expectations for further rate cuts, and investment managers said, "The path of the Federal Reserve's future easing cycle is still unclear, and investors have different expectations for the pace and extent of rate cuts." (Gold Ten)

The path of the Fed's future easing cycle is still unclear, and investors have different expectations on the speed and extent of rate cuts.

The US Federal Reserve (Fed) announced a 2-notch rate cut on September 19, lowering the interest rate to 4.75% to 5%, the first rate cut since 2020. In November, it announced another 1-notch cut, lowering the interest rate to 4.5% to 4.75%.

Before the Fed's rate cuts, the US benchmark interest rate had remained at 5.25% to 5.5% for nearly a year, with the aim of bringing down the persistently high inflation rate. After long-term efforts, the US inflation rate has indeed shown a significant decline.

According to <CRO>, ...

Comrade Soros warns: The probability of inflation rebounding is high, and the Fed may be too happy too soon

Here is the English translation, with the content inside <> not translated:

[Important News from Last Night and This Morning (November 10 - November 11)]

Powell: Will not be dismissed due to Trump's resignation, the president has no legal authority to remove him
According to reports from JinShi, the Federal Reserve this week announced a 25-basis-point rate cut as scheduled, lowering the federal funds rate target range to 4.5%-4.75%. All 12 FOMC voting members voted in favor of the rate cut. The policy statement removed the language about progress on inflation and greater confidence in achieving the target, emphasizing the focus on employment and inflation risks. Fed Chair Powell said that the pace of future rate cuts will be adjusted based on economic conditions, there is currently high uncertainty, and it is not appropriate to provide too much forward guidance, but they will gradually move towards a neutral policy stance. He also said that the election will not affect the Fed's near-term policy decisions, and he will not be dismissed due to Trump's resignation, as the president has no legal authority to remove him. It is reported that Trump's election has led traders to reduce bets on further Fed rate cuts next year, and it is expected that there may be 1-2 rate cuts in the first half of 2025 before a pause.

Later news, Musk may support Trump to intervene in the Federal Reserve.

The HKSAR government will sign contracts with the third batch of key corporate partners, covering areas such as fintech and AI
According to the official Weibo account of the Greater Bay Area Voice, the Financial Secretary of the HKSAR government, Paul Chan, said today that the government will hold a signing ceremony with the third batch of key corporate partners tomorrow. This time, there are 17 key enterprises participating in the signing, from the mainland, the US and Europe, engaged in areas such as AI and big data, life and health technology, fintech, advanced manufacturing and new energy technology. 90% of them have planned to set up international or regional headquarters in Hong Kong. Together with the first two batches of key corporate partners, a total of more than 60 key corporate partners are expected to bring HK$42 billion in investment and create over 17,000 job opportunities to Hong Kong.

Musk may intervene to suggest Trump adopt a more relaxed alternative to the Biden administration's AI executive order
According to Fortune magazine, as the US election results have been finalized, Musk's support for Trump has yielded an obvious immediate return on this bet that was seen as a gamble by the outside world. Musk may try to persuade Trump to abandon his opposition to the Biden administration's electric vehicle tax credit policy, and encourage the purchase of electric vehicles. After Trump's victory speech, Tesla's stock price rose sharply. Investors expect the Trump administration to stop federal investigations and enforcement actions against Tesla, especially those related to its autonomous driving software. 
In addition, the relationship between the Federal Aviation Administration and SpaceX has been very tense. In September, Musk demanded that FAA Administrator Steve Dickson resign, because SpaceX was fined $630,000 for rocket launch violations. Musk said he plans to set up a government efficiency department (DOGE) under the Trump administration, with a work plan that includes relaxing regulations on its rocket launches. Trump himself has also suggested using Starlink's satellite service to provide internet connectivity in rural areas as part of the government's future $42 billion broadband investment plan, which could be a potential financial boon for Starlink.