Odaily星球日报讯 美联储卡什卡利：无论是加息还是降息，货币政策的任何调整都不应排除在考虑之外，由于关税政策，调整利率的障碍加大，即使经济和劳动力市场走弱，降息的门槛也更高。（金十）

Odaily星球日报讯 美联储卡什卡利：无论是加息还是降息，货币政策的任何调整都不应排除在考虑之外，由于关税政策，调整利率的障碍加大，即使经济和劳动力市场走弱，降息的门槛也更高。（金十）

美联储卡什卡利：无论是加息还是降息，都应考虑调整货币政策

Odaily Planet News: Federal Reserve's Kashkari: No monetary policy adjustment, whether rate hike or cut, should be ruled out. Due to tariff policies, obstacles to rate adjustments have increased, and the threshold for rate cuts is higher, even if the economy and labor market weaken. (Jinshi)

Fed's Kashkari: Whether raising or lowering interest rates, we should consider adjusting monetary policy

<Odaily> Planet Daily News: Deutsche Bank says that if the volatility that once pushed U.S. long-term borrowing costs above 5% continues, the Federal Reserve will need to stabilize the U.S. Treasury market. On Wednesday, concerns about the safety of U.S. assets escalated due to Trump's tariff war, intensifying the sell-off of U.S. Treasuries, with the 30-year Treasury yield rising to 5.02%, the highest level since November 2023. If this situation continues, the Federal Reserve will need to intervene, according to George Saravelos, the global head of foreign exchange strategy at the bank, who calls it a "circuit breaker" - or emergency quantitative easing. He wrote: "If the recent volatility in the U.S. Treasury market continues, we believe the Federal Reserve has no choice but to emergency purchase U.S. Treasuries to stabilize the bond market." (Jinshi)

Deutsche Bank: The Fed may conduct emergency QE to curb turmoil in the U.S. bond market

In April 2025, the tariff hammer of the Trump administration once again shook global markets. U.S. stocks plummeted, and crypto assets were awash in red, with Bitcoin dropping over 10% in two days and Ethereum plunging by 20% at one point, resulting in liquidations totaling $1.6 billion within 24 hours. Investors were panic-stricken, turning their eyes to the Federal Reserve and hoping for an interest rate cut to rescue the market. However, the Fed's silence was unsettling: Where exactly is the threshold for rate cuts? Under the dual pressure of inflation concerns and economic strain, when will the Federal Reserve ease its policy? This is not just a data game, but a contest of market confidence and macroeconomic strategy.
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The market is eagerly waiting, when will the Federal Reserve start "printing money"?

According to ChainCatcher, Nick Timiraos, a Wall Street Journal reporter known as the "Fed whisperer," wrote that Federal Reserve Chairman Jerome Powell is facing an increasingly difficult task. Economists, business owners, and investors generally believe that the uncertainty brought by Trump's sudden massive tariff increases—many of which will take effect on Wednesday—will push the economy closer to recession by weakening employment and consumption. This might require interest rate cuts to alleviate economic downward pressure.

Meanwhile, the magnitude of tariff increases could lead to significant price hikes for many imported goods, including raw materials used by domestic manufacturers. This might cause Fed officials to worry about inflation and support maintaining the current interest rate level, despite growing risks to the economy and labor market.

"They are in a dilemma," said Lawrence Meyer, a former Fed governor. The U.S. Congress has entrusted the Federal Reserve with the responsibility of maintaining low and stable inflation and a healthy labor market. Since more than forty years ago, no U.S. president's policies have posed such a profound potential conflict to these two tasks.