Odaily星球日报讯 穆迪首席经济学家发出警告，称尽管 2026 年可能迎来多次降息，但这并非繁荣的信号，而是因为经济陷入了“脆弱的平衡”，这种奇怪的组合指向未来是一条渐进、谨慎的利率路径，而不是激进的降息周期。美国劳工统计局（BLS）的数据显示，2025 年 11 月新增就业人数仅为 6.4 万人，该机构指出，自 4 月以来就业人数显示的“净变化很小”。（金十）

<p>Odaily星球日报讯 穆迪首席经济学家发出警告，称尽管 2026 年可能迎来多次降息，但这并非繁荣的信号，而是因为经济陷入了“脆弱的平衡”，这种奇怪的组合指向未来是一条渐进、谨慎的利率路径，而不是激进的降息周期。美国劳工统计局（BLS）的数据显示，2025 年 11 月新增就业人数仅为 6.4 万人，该机构指出，自 4 月以来就业人数显示的“净变化很小”。（金十）</p>

穆迪：美联储明年降息虽可期，但需保持耐心

Odaily Odaily reports that Moody's chief economist has warned that while multiple interest rate cuts are possible in 2026, this is not a sign of prosperity, but rather indicates the economy is in a "fragile equilibrium." This unusual combination points to a gradual, cautious interest rate path rather than an aggressive rate-cutting cycle. Data from the U.S. Bureau of Labor Statistics (BLS) shows that only 64,000 jobs were added in November 2025, with the agency noting that the "net change" in employment figures since April has been "minimal." (Jinshi)

<p>Odaily Odaily reports that Moody&#39;s chief economist has warned that while multiple interest rate cuts are possible in 2026, this is not a sign of prosperity, but rather indicates the economy is in a &quot;fragile equilibrium.&quot; This unusual combination points to a gradual, cautious interest rate path rather than an aggressive rate-cutting cycle. Data from the U.S. Bureau of Labor Statistics (BLS) shows that only 64,000 jobs were added in November 2025, with the agency noting that the &quot;net change&quot; in employment figures since April has been &quot;minimal.&quot; (Jinshi)</p>

Moody's: Fed rate cuts are expected next year, but patience is needed.

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