FOMC のまとめ：事態の沈静化を待つ

FOMC Recap: Waiting for the Dust to Settle

In its May meeting, the Federal Open Markets Committee (FOMC) held rates steady at an upper bound of 4.5%, pausing for the third straight meeting after cutting 100bp since September. The official statement noted the increased uncertainty of the economic landscape and risks to both higher inflation and unemployment – an admission that stagflation is a concern . Given the questions about “the scale, scope, timing, and persistence of the tariffs” and their effect on the economy, the Fed will feel content to sit tight until “the appropriate direction becomes clear.”

Schaeffler : Weak Car Market Weighs on Schaeffler Earnings

Schaeffler's Q1 2025 revenue declined by 2.9% to EUR 5.9 billion, impacted by a weak automotive market, particularly in Europe within the Powertrain & Chassis division . E-Mobility showed growth, with strong regional performance in the Americas and Asia/Pacific offsetting European declines. Rising R&D expenses pressured EBITDA, while the EBIT margin remained flat. Free cash flow was negative, though improved year-over-year. Net debt increased, raising leverage concerns. Despite this, liquidity remains strong. While guidance remains optimistic, the report notes the risk of global trade polic...