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宿州市(砀山县、泗县、埇桥区、萧县、灵璧县)
黔东南苗族侗族自治州(雷山县、剑河县、台江县、施秉县、麻江县、岑巩县、从江县、黄平县、三穗县、黎平县、锦屏县、榕江县、丹寨县、镇远县、天柱县、凯里市)
天水市(清水县、秦州区、武山县、甘谷县、秦安县、张家川回族自治县、麦积区)
成都市(新都区、邛崃市、双流区、大邑县、金牛区、蒲江县、青白江区、金堂县、锦江区、崇州市、简阳市、温江区、都江堰市、武侯区、彭州市、新津区、郫都区、青羊区、龙泉驿区、成华区)
武汉市(汉南区、黄陂区、洪山区、新洲区、硚口区、青山区、江夏区、东西湖区、蔡甸区、武昌区、汉阳区、江汉区、江岸区)
七台河市(桃山区、茄子河区、勃利县、新兴区)
昌吉回族自治州(木垒哈萨克自治县、阜康市、吉木萨尔县、奇台县、昌吉市、呼图壁县、玛纳斯县)
西宁市(城北区、城中区、湟源县、大通回族土族自治县、湟中区、城东区、城西区)
陇南市(徽县、两当县、宕昌县、文县、康县、礼县、武都区、西和县、成县)

  汇通财经APP讯——美联储周三(4月23日)发布的褐皮书报告释放重磅信号:特朗普政府加征关税政策正在全美引发连锁反应,多地物价快速上涨,经济活动明显放缓。这份基于12个地区联储调查的最新报告显示,企业和家庭正艰难应对贸易政策突变带来的混乱局面,经济不确定性激增至前次报告的两倍(提及达80次),107处直接关联关税影响。

  各行业拉响警报,滞胀阴云笼罩

  消费端抢购与价格乱象

  报告捕捉到关税生效前的“抢购潮”,民众争相购买进口汽车等商品。但伴随而来的是企业定价混乱——芝加哥联储辖区机械制造商被迫每日调价,里奇蒙联储咖啡烘焙商遭遇“历史性成本上涨”,金属板材制造商因钢铁关税陷入订单荒。

  投资冻结与裁员暗流

  多地区出现投资决策瘫痪:军事装备制造商直言环境“过于混乱”而暂停投资;建筑业预计需求将因关税成本骤降。更严峻的是,亚特兰大、圣路易斯联储均报告企业酝酿裁员,旧金山联储证实各行业已出现实际裁员行动,“工资与物价齐涨”的滞胀苗头开始显现。

  地区经济集体失速

  克利夫兰:建筑业短暂繁荣后需求或将“断崖式下跌”。

  里奇蒙:企业面临“史诗级成本压力”与订单不确定性。

  旧金山:进口商品价格压力蔓延至全行业。

  总结:美联储按下暂停键,降息预期升温

  面对这场“关税冲击波”,美联储选择观望。尽管5月会议大概率维持利率不变,但市场已押注6月启动降息。褐皮书中“前景显著恶化”的警告与鲍威尔对此报告的重视,暗示政策转向可能早于预期。当报告提及不确定性的次数飙升至80次,美国经济这辆疾驰的列车,或许正被迫拉起手刹。

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