Odaily星球日报讯 德国商业银行利率和信贷策略师 Erik Liem 表示，由于降息 25 个基点已被完全消化，焦点将集中在美联储主席鲍威尔关于未来路径的讲话上，他可能暗示持更加谨慎的态度。（金十）

德商银行：鲍威尔可能暗示持更加谨慎态度

Odaily Odaily News: Erik Liem, interest rate and credit strategist at Commerzbank, said that since the 25 basis point rate cut has been fully digested, the focus will be on Fed Chairman Powell&#39;s speech on the future path, where he may hint at a more cautious attitude. (Jinshi)

Commerzbank: Powell may signal a more cautious approach

Odaily reports that Wall Street analysts unanimously believe the Federal Reserve may hint at a pause in rate cuts at its meeting this week. According to Yardeni Research, Fed Chair Powell will use the post-meeting press conference to convey to investors that the next rate decision will be a pause in rate cuts. Yardeni Research said: "Since September 18, after a full 100 basis points of rate cuts, we expect Powell to signal at the FOMC meeting press conference that the Fed will temporarily pause further easing. A resilient and steadily strengthening economy is likely to be a key reason the Fed may make the December rate cut the last for some time."

Analysis: The Fed may slow down its rate cuts next year

Odaily reports that according to CME's "Fed Watch" data, the market currently believes the probability of the Fed announcing a 25-basis-point rate cut tonight (3 am on the 19th) is 98.8%, while the probability of keeping the interest rate unchanged at 4.5%-4.75% is only 1.2%.

Before the interest rate decision was announced, the market believed that the probability that the Fed would announce a 25 basis point rate cut was 98.8%.

Odaily Odaily News reports that SPI Asset Management analyst Stephen Innes said that although market participants generally believe that further rate cuts and strong earnings growth will coexist, these factors are not necessarily interdependent. People generally expect the Federal Reserve to cut rates by 25 basis points, but the subsequent trend is still unclear. In any case, the subsequent trend of the US dollar, stock market and bond market largely depends on the guidance to be issued by the Federal Reserve, rather than the rate cut itself on Wednesday. The key question is whether the Federal Reserve will signal a pause in rate hikes at the January 2020 FOMC meeting. My view tends to be affirmative. However, the real focus is on how the Federal Reserve will clearly convey this potential shift and confirm a "dovish rate cut". (JinShi)

Analysts: The market is focusing on whether the Federal Reserve will suspend interest rate hikes in January next year and how to convey the potential change in attitude of "hawkish interest rate cuts"