美国经济周报：沃什的鹰派立场荡然无存

This weekly reviews the October FOMC meeting and US data. The FOMC held rates steady as expected, with Governors Cook and Hammack dissenting in favor of a hike. Chair Warsh turned notably dovish at the post-meeting press conference, arguing the September hike was already working to reduce inflation, avoiding discussion of recent strong inflation prints, and not treating AI-driven demand strength as justification for further tightening; he did not push back on a December hike. Nomura reads this as willingness to tighten further but reluctance to be proactive, maintaining its call for a December hike followed by a hold through 2027. Warsh also announced fewer policy meetings in 2027 and 2028. On data, the team expects October payroll growth to rebound and unemployment to edge down, with low layoffs and firm ADP readings;