The minutes of the September meeting of the Federal Reserve show that most officials support raising interest rates within the year, and expectations for a rate hike in October have cooled down

The minutes of the Federal Reserve's September meeting showed that 19 officials supported a 25 basis point rate hike, with most officials believing it was necessary to tighten policy before the end of the year, but the Fed was not in a hurry to act in October. The market's expected probability of a 25 basis point interest rate hike in October has decreased from 70% to 20%. Some officials believe that the rise in long-term US bond yields will restrict the economy. A few officials suggest improving the policy tools to deal with the market pressure on treasury bond in advance. There is no clear intervention plan at present. (Source: Jin Shi) AI interpretation: The Federal Reserve has clarified its stance on maintaining a tightening policy this year through meeting minutes, which directly breaks the market's illusion of a policy shift. Officials' attention to long-term US bond yields reveals the substantial suppression of the real economy by the tightening financial environment. The current policy path focuses on maintaining financial stability through high interest rates, rather than simply pursuing a short-term pace of interest rate hikes. This statement reinforces the narrative that interest rates will remain high for a longer period of time, completely suppressing market speculation about recent interest rate cuts.