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原文標題：

Powell says 'inflation is much too high' and the Fed will take 'necessary
steps' to address.

鮑威爾說，美聯儲將採取“必要措施”解決通膨太高的問題

原文連結：http://ibit.ly/tOWv

發布時間：MON, MAR 21 202212:30 PM EDT

原文內容：

KEY POINTS

‧Fed Chairman Jerome Powell vowed tough action on inflation, which he said
  jeopardizes the recovery.

‧美聯儲主席鮑威爾誓言將對通貨膨脹採取強硬措施，他說通貨膨脹危及經濟復甦。

‧Powell said the Fed will continue to hike rates until inflation comes
  under control, and could get even more aggressive than last week’s increase,
  which was the first in more than three years.

‧鮑威爾表示，美聯儲將繼續加息，直至通膨得到控制，並可能比上周的加息更為激進
  ，這是三年多來的首次加息。

‧He noted those rate rises could go from the traditional 25 basis point
  moves to more aggressive 50 basis point increases if necessary.

‧他指出，如果有必要的話，這些利率上調可能會從傳統的25個基點上調到更激進的50
  個基點。


Federal Reserve Chairman Jerome Powell on Monday vowed tough action on
inflation, which he said jeopardizes an otherwise strong economic recovery.

美聯儲主席鮑威爾週一誓言將對通貨膨脹採取強硬措施,他說通貨膨脹危及原本強勁的經濟
復甦.

“The labor market is very strong, and inflation is much too high,” the
central bank leader said in prepared remarks for the National Association for
Business Economics.

“勞動力市場非常強勁,通膨率過高,”這位央行行長在為美國全國商業經濟協會
(National Association for Business Economics)準備的講話中表示.

The speech comes less than a week after the Fed raised interest rates for the
first time in more than three years in an attempt to battle inflation that is
running at its highest level in 40 years.

不到一周前,美聯儲(Fed)三年多來首次加息,以抗擊處於40年來最高水準的通膨.

Reiterating a position the Federal Open Market Committee made Wednesday in
its post-meeting statement, Powell said interest rate hikes would continue
until inflation is under control. He said the increases could be even higher
if necessary than the quarter-percentage point move approved at the meeting.



“We will take the necessary steps to ensure a return to price stability,”
 he said. “In particular, if we conclude that it is appropriate to move more
aggressively by raising the federal funds rate by more than 25 basis points
at a meeting or meetings, we will do so. And if we determine that we need to
tighten beyond common measures of neutral and into a more restrictive stance,
we will do that as well.”

他表示:"我們將採取必要措施,確保物價回歸穩定","特別是,如果我們得出結論認為


A basis point is equal to 0.01%. FOMC officials indicated that 25 basis point
increases are likely at each of their remaining six meetings this year.
However, markets are pricing in about a 50-50 chance the next hike, at the
May meeting, could be 50 basis points.



Stocks slipped to their lows of the session after Powell’s remarks while
Treasury yields rose.

鮑威爾發表講話後,美國股市跌至盤中低點,美國國債收益率上升.

Widely underestimated inflation"
"被廣泛低估"的通貨膨脹

The sudden policy tightening comes with inflation as measured by the consumer
price index running at 7.9% on a 12-month basis. A gauge that the Fed prefers
still has prices up 5.2%, well above the central bank’s 2% target.

突襲式的緊縮政策,起因於12個月7.9% 的通貨膨脹.美聯儲參考的指標顯示,房價仍然上
漲了5.2% ,遠高於美聯儲2% 的目標.

As he has before, Powell ascribed much of the pressures coming from Covid
pandemic-specific factors, in particular escalated demand for goods over
services that supply could not meet. He conceded that Fed officials and many
economists “widely underestimated” how long those pressures would last.

正如他以前所說,鮑威爾將大部分壓力歸因於大流行的特定因素,特別是對商品的需求增加
,而對服務的供應無法滿足.他承認美聯儲官員和許多經濟學家“普遍低估了”這些壓力
持續的時間.

While those aggravating factors have persisted, the Fed and Congress provided
more than $10 trillion in fiscal and monetary stimulus since the pandemic’s
start. Powell said he continues to believe that inflation will drift back to
the Fed’s target, but it’s time for the historically easy policies to end.



“It continues to seem likely that hoped-for supply-side healing will come
over time as the world ultimately settles into some new normal, but the
timing and scope of that relief are highly uncertain,” said Powell, whose
official title now is chairman pro tempore as he awaits Senate confirmation
for a second term. “In the meantime, as we set policy, we will be looking to
actual progress on these issues and not assuming significant near-term
supply-side relief.”



Powell also addressed the Russian invasion of Ukraine, saying it is adding to
supply chain and inflation pressures. Under normal circumstances, the Fed
generally would look through those types of events and not alter policy.
However, with the outcome unclear, he said policymakers have to be wary of
the situation.



“In normal times, when employment and inflation are close to our objectives,
monetary policy would look through a brief burst of inflation associated with
commodity price shocks,” he said. “However, the risk is rising that an
extended period of high inflation could push longer-term expectations
uncomfortably higher, which underscores the need for the Committee to move
expeditiously as I have described.”





比起上一篇的逐字稿 這篇是CNBC整理的.
反正就是在告訴大家今年還會升息很多次,而且可能會來個一次兩碼.
於是大家就嚇壞了(?)

奇怪這不是之前就溝通過的嗎 XD
不過不下點猛藥的話,通膨失控造成的問題更嚴重就是.

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