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美联储5月政策声明全文(中英对照)

  美国联邦公开市场委员会在结束为期两天的政策会议后决定维持联邦基金利率目标区间在1.5%至1.75%不变。美联储的决策获得一致赞成,无人持异议。

  美联储5月会议声明及其与3月声明的对比,出现了一些微小的变化:

  删除了经济前景近几个月走强的表述。

  家庭支出较四季度的强劲增速放缓。

  FOMC预计通胀将接近2%,为非此前继续低于2%的表述。

  美联储维持利率不变,而非上次会议的加息。

  声明发布后,联邦基金利率期货显示,美联储6月加息的概率为95%。

  以下为美联储会议声明全文:

  3月会议以来,FOMC得到的信息显示,劳动力市场持续表现强劲,经济活动温和增长。就业增长最近几个月平均保持强劲,失业率保持低位,最近的数据显示,家庭支出较强劲的四季度增速放缓,而商业固定投资继续强劲增长。同比来看,整体通胀和剔除食品和能源价格的通胀接近2%。基于市场的通胀补偿指标仍处低位,基于调查的较长期通胀预期总体而言几乎未变。

  与美联储法定职责相一致,FOMC委员会旨在促进就业水平最大化和价格稳定。委员会预计,随着货币政策的进一步逐步调整,经济活动将温和扩张在中期;同时劳动力市场环境已经有所加强。衡量未来12个月通胀率的指标料将在2%一下运行。经济前景面临的风险表现得大致均衡。。

  基于劳动力市场环境和通胀已有的表现及未来的预期,委员会决定,将联邦基金利率的目标区间维持在1.50%-1.75%。货币政策的立场仍然宽松,从而支持强劲的劳动力市场环境,以及通胀持续回归2%。

  至于判断未来联邦基金利率目标区间进一步调整的时间和规模,委员会将评估,相对于就业最大化和2%的通胀目标,实际与预期的经济条件如何。在评估过程中,委员会将考虑各种信息,包括劳动力市场环境的指标、通胀压力和通胀预期指标、金融和国际形势发展的数据等。委员会将悉心监控,相对于对称的通胀目标,通胀的实际情况和预期发展。委员会预计,经济状况将保证联邦基金利率进一步循序渐进地上升,在一段时间内,联邦基金利率可能保持在低于预期的长期利率水平。然而,联邦基金利率的实际路径将取决于未来数据显示的经济前景。

  FOMC货币政策会议中投票赞成者包括:FOMC委员会主席美联储主席鲍威尔;委员会副主席(纽约联储主席)杜德利( William C. Dudley, Vice Chairman);(里士满联储主席)Thomas I. Barkin;(亚特兰大联储主席)Raphael W. Bostic;(美联储理事)Lael Brainard、(克利夫兰联储主席)Loretta J Mester;(美联储副主席)Randal K. Quarles和John C. Williams。

  Federal Reserve issues FOMC statement

  Information received since the Federal Open Market Committee met in March indicates that the labor market has continued to strengthen and that economic activity has been rising at a moderate rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Recent data suggest that growth of household spending moderated from its strong fourth-quarter pace, while business fixed investment continued to grow strongly. On a 12-month basis, both overall inflation and inflation for items other than food and energy have moved close to 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.

  Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with further gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace in the medium term and labor market conditions will remain strong. Inflation on a 12-month basis is expected to run near the Committee's symmetric 2 percent objective over the medium term. Risks to the economic outlook aPPear roughly balanced.

  In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.

  In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee will carefully monitor actual and expected inflation developments relative to its symmetric inflation goal. The Committee expects that economic conditions will evolve in a manner that will warrant further gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.

  Voting for the FOMC monetary policy action were Jerome H. Powell, Chairman; William C. Dudley, Vice Chairman; Thomas I. Barkin; Raphael W. Bostic; Lael Brainard; Loretta J. Mester; Randal K. Quarles; and John C. Williams.

  Implementation Note issued May 2, 2018

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