--- title: "中金：美聯儲按兵不動 降息時點或推遲" description: "中金研究指出，美聯儲在 1 月會議上維持利率不變，符合市場預期。理事沃勒的反對票可能與其希望被提名為下一任美聯儲主席有關。貨幣政策聲明顯示失業率穩定，鮑威爾稱政策 “處於合適位置”，短期內降息門檻提高。中金預計美聯儲在 2026 年降息兩次，但首次降息可能推遲至第二季度。美國經濟面臨的核心問題是收入分配不平衡和家庭可負擔壓力，需更多非市場化政策回應選民關切。" type: "news" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/274066153.md" published_at: "2026-01-29T00:51:14.000Z" --- # 中金：美聯儲按兵不動 降息時點或推遲 > 中金研究指出，美聯儲在 1 月會議上維持利率不變，符合市場預期。理事沃勒的反對票可能與其希望被提名為下一任美聯儲主席有關。貨幣政策聲明顯示失業率穩定，鮑威爾稱政策 “處於合適位置”，短期內降息門檻提高。中金預計美聯儲在 2026 年降息兩次，但首次降息可能推遲至第二季度。美國經濟面臨的核心問題是收入分配不平衡和家庭可負擔壓力，需更多非市場化政策回應選民關切。 中金研究認為，美聯儲在 1 月會議上維持利率不變，符合市場預期。理事沃勒投下反對票，或與其希望被提名為下一任美聯儲主席有關。貨幣政策聲明稱 “失業率已趨於穩定”，鮑威爾表示貨幣政策 “處於合適位置”，顯示短期內再次降息的門檻提高。中金認為美聯儲在 2026 年仍有望降息兩次，但首次降息或推遲至第二季度。美國經濟的核心問題並非增長不足，而在於收入分配不平衡和普通家庭的可負擔壓力。這類結構性問題並非單靠貨幣就能解決，反而可能推動政府採取更多非市場化的干預性政策，來回應選民的關切。 ### Related Stocks - [002807.CN - 江陰銀行](https://longbridge.com/zh-HK/quote/002807.CN.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | America’s income gap just hit a 4-year peak — and the middle class is the new casualty | America’s income gap just hit a 4-year peak — and the middle class is the new casualty | [Link](https://longbridge.com/zh-HK/news/276188602.md) | | Why the Fed chair wields outsized power | The chair of the Federal Reserve holds only a single vote on interest rates, yet... | [Link](https://longbridge.com/zh-HK/news/276375572.md) | | Fed Vice Chair for Supervision Bowman says latest jobs report a bit strange, most other indicators don't show as strong a labor market | Fed Vice Chair for Supervision Bowman says latest jobs report a bit strange, most other indicators don't show as strong | [Link](https://longbridge.com/zh-HK/news/276259091.md) | | 5 smart ways to manage high-rate debt until the Fed cuts rates again | The Fed hasn't lowered rates in 2026. Learn ways to manage high-interest debt -- from credit cards to consolidation -- s | [Link](https://longbridge.com/zh-HK/news/276064785.md) | | Fed Minutes Reveal Officials Continue To Hold Mixed Views | The Federal Reserve's latest meeting minutes reveal a division among officials regarding interest rate outlooks. Some me | [Link](https://longbridge.com/zh-HK/news/276263600.md) | --- > **免責聲明**：本文內容僅供參考，不構成任何投資建議。