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2021-11-12
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Inflation Hits a 30-Year High. Will It Sink Biden’s Agenda?<blockquote>通胀创30年新高。它会破坏拜登的议程吗?</blockquote>
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Will It Sink Biden’s Agenda?<blockquote>通胀创30年新高。它会破坏拜登的议程吗?</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166672248","media":"The fiscal times","summary":"U.S. prices rose 6.2% over the last year, the largest annual increase since 1990, the Bureau of Labo","content":"<p>U.S. prices rose 6.2% over the last year, the largest annual increase since 1990, the Bureau of Labor StatisticsannouncedWednesday.</p><p><blockquote>美国劳工统计局周三宣布,去年美国物价上涨6.2%,为1990年以来最大年度涨幅。</blockquote></p><p> Prices rose 0.9% in October compared to September, with the cost of energy, shelter, food and cars both new and used rising significantly during the month. On a 12-month basis, the cost of fuel oil is up about 60%, utilities are up 28% and the price of bacon is up 20%.</p><p><blockquote>与9月份相比,10月份价格上涨了0.9%,其中能源、住房、食品以及新车和二手车的成本在当月大幅上涨。在12个月的基础上,燃油成本上涨了约60%,公用事业上涨了28%,培根价格上涨了20%。</blockquote></p><p> In a separate report, the Labor Department said that while wages rose on a nominal basis in October, the increase in inflation was enough to produce an overall decrease of 0.5% in wages when factoring in inflation.</p><p><blockquote>劳工部在另一份报告中表示,虽然10月份工资名义上有所上涨,但考虑到通胀因素,通胀的上升足以导致工资总体下降0.5%。</blockquote></p><p> The latest data are feeding worries that inflation will continue to be higher and more persistent during the recovery from the Covid-19 pandemic than some economists had predicted. Both the White House and the Federal Reserve have portrayed recent price hikes as largely “transitory,” driven by comparisons with numbers from last year’s pandemic and supply chain problems that will eventually resolve themselves, but Wednesday’s report is raising new doubts about those claims.</p><p><blockquote>最新数据加剧了人们的担忧,即在新冠肺炎疫情复苏期间,通胀将继续比一些经济学家预测的更高、更持久。白宫和美联储都将最近的价格上涨描述为主要是“暂时的”,这是由于与去年大流行和供应链问题的数字进行了比较,这些问题最终会自行解决,但周三的报告对这些说法提出了新的质疑。</blockquote></p><p> <b>A threat to Biden’s agenda — and presidency:</b>Politically, the inflation numbers could make it more difficult for President Joe Biden to push through his $1.8 trillion Build Back Better bill, the next major plank of his economic agenda.</p><p><blockquote><b>对拜登议程和总统任期的威胁:</b>在政治上,通胀数据可能会让乔·拜登总统更难推动其1.8万亿美元的重建更好法案,这是他经济议程的下一个主要内容。</blockquote></p><p> Sen. Joe Manchin, an essential vote in an evenly divided Senate, has repeatedly criticized the size of the bill — now reduced to about half its original size largely in response to his concerns — and on Wednesday the <a href=\"https://laohu8.com/S/WSTC\">West</a> Virginia Democrat indicated that the latest numbers may make him dig in on his position.</p><p><blockquote>参议员乔·曼钦(Joe Manchin)是参议院平分秋色中的重要一票,他一再批评该法案的规模——现在已减少到原来规模的一半左右,主要是为了回应他的担忧——周三,<a href=\"https://laohu8.com/S/WSTC\">西方</a>弗吉尼亚州民主党人表示,最新的数据可能会让他坚持自己的立场。</blockquote></p><p> “By all accounts, the threat posed by record inflation to the <a href=\"https://laohu8.com/S/AFG\">American</a> people is not ‘transitory’ and is instead getting worse,” Manchin tweeted. “From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.”</p><p><blockquote>他说:“从各方面来看,创纪录的通胀对本港经济构成的威胁<a href=\"https://laohu8.com/S/AFG\">美国的</a>人们并不是‘暂时的’,而是变得更糟,”曼钦在推特上写道。“从杂货店到加油站,美国人知道通货膨胀税是真实的,华盛顿不能再忽视美国人每天感受到的经济痛苦。”</blockquote></p><p> Biden responded to those concerns in astatementWednesday, arguing that the recently passed infrastructure bill will help ease supply bottlenecks, while the larger social spending package still under debate would fight inflation by reducing the cost of child care, prescription drugs and health coverage.</p><p><blockquote>拜登周三在一份声明中回应了这些担忧,称最近通过的基础设施法案将有助于缓解供应瓶颈,而仍在辩论中的更大社会支出计划将通过降低儿童保育、处方药和医疗保险的成本来对抗通货膨胀。</blockquote></p><p> Still, Biden sent a signal that he recognizes that rising prices are a problem. “Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me,” he said in a speech at the port of Baltimore. He said he has ordered White House officials to address the issue: “I have directed my <a href=\"https://laohu8.com/S/NHLD\">National</a> Economic Council to pursue means to try to further reduce these costs, and have asked the Federal Trade Commission to strike back at any market manipulation or price gouging in [the energy] sector.”</p><p><blockquote>尽管如此,拜登还是发出了一个信号,即他认识到物价上涨是一个问题。“通货膨胀伤害了美国人的钱包,扭转这一趋势是我的首要任务,”他在巴尔的摩港的一次演讲中说。他说,他已经命令白宫官员解决这个问题:“我已经指示我的<a href=\"https://laohu8.com/S/NHLD\">国家的</a>经济委员会将寻求进一步降低这些成本的方法,并要求联邦贸易委员会对[能源]行业的任何市场操纵或价格欺诈行为进行反击。”</blockquote></p><p> <b>The debate over Biden’s spending plan:</b>At the same time, many economists have pushed back against the idea that spending provided by the Build Back Better plan would be inflationary in the first place. Assuming its cost is fully or largely offset, the legislation would produce only limited inflationary effects, and perhaps none at all, depending on how it’s implemented. On top of that, the spending is spread out over 10 years, with its annual effect being only a fraction of the overall cost.</p><p><blockquote><b>关于拜登支出计划的争论:</b>与此同时,许多经济学家反驳了“重建更好”计划提供的支出首先会引发通货膨胀的观点。假设其成本被完全或大部分抵消,该立法只会产生有限的通胀影响,甚至可能根本不会产生,具体取决于其实施方式。最重要的是,支出分散在10年内,其年度影响仅占总成本的一小部分。</blockquote></p><p> “The reconciliation bill would have essentially no discernible effect on the medium- or long-term path of inflation,” former White House economic adviser Jason Furman tweeted Wednesday. “That legislation should be evaluated on other criteria like what it does for opportunity, climate change & long-term growth.”</p><p><blockquote>前白宫经济顾问杰森·弗曼周三在推特上表示:“和解法案基本上不会对通胀的中长期路径产生明显影响。”“这项立法应该根据其他标准进行评估,例如它对机会、气候变化和长期增长的作用。”</blockquote></p><p> <b>More pressure on the Fed?</b>In his statement Wednesday, Biden cited the Fed’s role in fighting inflation. “I want to reemphasize my commitment to the independence of the Federal Reserve to monitor inflation, and take steps necessary to combat it,” he said.</p><p><blockquote><b>美联储面临更大压力?</b>拜登在周三的声明中提到了美联储在对抗通胀方面的作用。“我想再次强调我对美联储独立性的承诺,以监控通胀,并采取必要措施应对通胀,”他说。</blockquote></p><p> As part of an effort to withdraw its support for the economy, the central bank announced last week that it would start winding down its $120 billion per month bond-purchasing program in November, with the goal of ending it entirely by June. But it also signaled that it had no plans to raise interest rates in the near future, given the fact that millions of Americas are still out of work. Now, with the release of another month of worse-than-expected inflation data, it could face calls to act more quickly and decisively.</p><p><blockquote>作为撤回对经济支持的努力的一部分,央行上周宣布将于11月开始逐步减少每月1200亿美元的债券购买计划,目标是在6月前完全结束该计划。但它也暗示,鉴于数百万美国人仍处于失业状态,近期没有加息的计划。现在,随着又一个月差于预期的通胀数据的公布,它可能会面临评级采取更快、更果断的行动。</blockquote></p><p> “It is hard to see how the Fed will be able to stay on the sidelines much longer,” Matthew Sherwood of the Economist Intelligence <a href=\"https://laohu8.com/S/UNT\">Unit</a> told Fox Business. Katherine Judge of CIBC Economics said that the latest data “will leave more doubts in the Fed’s mind about how long they can let this inflation run.”</p><p><blockquote>经济学人智库的Matthew Sherwood表示:“很难看出美联储如何能够在更长时间内保持观望。”<a href=\"https://laohu8.com/S/UNT\">单位</a>告诉福克斯商业频道。CIBC Economics的凯瑟琳·贾奇(Katherine Judge)表示,最新数据“将让美联储更加怀疑他们能让通胀持续多久。”</blockquote></p><p></p><p> The Fed is in an increasingly difficult position, though, with its dual mandate of fighting inflation and promoting employment pulling in opposite directions. Persistent inflation could push the bank to raise interest rates sooner than it wants, but doing so could slow the recovery and the much-needed growth in payrolls.</p><p><blockquote>然而,美联储的处境越来越困难,其抗击通胀和促进就业的双重使命背道而驰。持续的通胀可能会促使央行比预期更早加息,但这样做可能会减缓复苏和急需的就业增长。</blockquote></p><p> <b>What comes next:</b>Many experts think inflation will continue to be a problem, at least in the near term. “This is going to get worse before it gets better,” Diane Swonk, chief economist at Grant Thornton,toldThe <a href=\"https://laohu8.com/S/WASH\">Washington</a> <a href=\"https://laohu8.com/S/POST\">Post</a>.</p><p><blockquote><b>接下来是什么:</b>许多专家认为通货膨胀将继续是一个问题,至少在短期内是这样。均富(Grant Thornton)首席经济学家黛安·斯旺克(Diane Swonk)告诉The<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a><a href=\"https://laohu8.com/S/POST\">张贴</a>.</blockquote></p><p> Ian Shepherdson, chief U.S. economist at High Frequency Economics, put some numbers on the gloomy outlook. “I hate to say this, but October's core CPI is just a taster,” hetweeted, referring to the core consumer price index, which rose 4.6% in October. “The next few months are going to be horrible. The y/y core rate is headed for 6-6.5% over the next three months, and it could even hit 7%.”</p><p><blockquote>高频经济公司首席美国经济学家伊恩·谢泼德森给出了一些悲观的前景。“我不想这么说,但10月份的核心CPI只是一个品尝者,”他在推特上写道,指的是10月份上涨4.6%的核心消费者价格指数。“接下来的几个月将会很糟糕。未来三个月,同比核心利率将达到6-6.5%,甚至可能达到7%。”</blockquote></p><p> At the same time, Shepherdson said that he expects things to improve significantly in the medium term. “I still think as a base case that inflation will be *way* lower a year from now,” he said.</p><p><blockquote>与此同时,谢泼德森表示,他预计情况将在中期内显着改善。“我仍然认为,作为一个基本情况,一年后通胀将会低得多,”他说。</blockquote></p><p> The <a href=\"https://laohu8.com/S/WRE\">Washington</a> Post’s Heather Long was a bit more ambiguous. “No <a href=\"https://laohu8.com/S/AONE.U\">one</a> really knows how this is going to end,” she tweeted. “The ‘consensus’ is inflation will be very high through the winter and spring. Then start to moderate. But if Fed, [White House] & Wall Street are wrong, it will get messy. And Fed will have to act (i.e. raise interest rates) in 2022.”</p><p><blockquote>The<a href=\"https://laohu8.com/S/WRE\">华盛顿州</a>波斯特的希瑟·朗有点暧昧。“不<a href=\"https://laohu8.com/S/AONE.U\">一</a>真的知道这将如何结束,”她在推特上写道。“‘共识’是通胀将在整个冬季和春季非常高。然后开始放缓。但如果美联储、(白宫)和华尔街错了,事情就会变得一团糟。美联储将不得不在2022年采取行动(即加息)。”</blockquote></p><p></p>","source":"lsy1631281755125","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Inflation Hits a 30-Year High. Will It Sink Biden’s Agenda?<blockquote>通胀创30年新高。它会破坏拜登的议程吗?</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInflation Hits a 30-Year High. Will It Sink Biden’s Agenda?<blockquote>通胀创30年新高。它会破坏拜登的议程吗?</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The fiscal times</strong><span class=\"h-time small\">2021-11-12 11:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>U.S. prices rose 6.2% over the last year, the largest annual increase since 1990, the Bureau of Labor StatisticsannouncedWednesday.</p><p><blockquote>美国劳工统计局周三宣布,去年美国物价上涨6.2%,为1990年以来最大年度涨幅。</blockquote></p><p> Prices rose 0.9% in October compared to September, with the cost of energy, shelter, food and cars both new and used rising significantly during the month. On a 12-month basis, the cost of fuel oil is up about 60%, utilities are up 28% and the price of bacon is up 20%.</p><p><blockquote>与9月份相比,10月份价格上涨了0.9%,其中能源、住房、食品以及新车和二手车的成本在当月大幅上涨。在12个月的基础上,燃油成本上涨了约60%,公用事业上涨了28%,培根价格上涨了20%。</blockquote></p><p> In a separate report, the Labor Department said that while wages rose on a nominal basis in October, the increase in inflation was enough to produce an overall decrease of 0.5% in wages when factoring in inflation.</p><p><blockquote>劳工部在另一份报告中表示,虽然10月份工资名义上有所上涨,但考虑到通胀因素,通胀的上升足以导致工资总体下降0.5%。</blockquote></p><p> The latest data are feeding worries that inflation will continue to be higher and more persistent during the recovery from the Covid-19 pandemic than some economists had predicted. Both the White House and the Federal Reserve have portrayed recent price hikes as largely “transitory,” driven by comparisons with numbers from last year’s pandemic and supply chain problems that will eventually resolve themselves, but Wednesday’s report is raising new doubts about those claims.</p><p><blockquote>最新数据加剧了人们的担忧,即在新冠肺炎疫情复苏期间,通胀将继续比一些经济学家预测的更高、更持久。白宫和美联储都将最近的价格上涨描述为主要是“暂时的”,这是由于与去年大流行和供应链问题的数字进行了比较,这些问题最终会自行解决,但周三的报告对这些说法提出了新的质疑。</blockquote></p><p> <b>A threat to Biden’s agenda — and presidency:</b>Politically, the inflation numbers could make it more difficult for President Joe Biden to push through his $1.8 trillion Build Back Better bill, the next major plank of his economic agenda.</p><p><blockquote><b>对拜登议程和总统任期的威胁:</b>在政治上,通胀数据可能会让乔·拜登总统更难推动其1.8万亿美元的重建更好法案,这是他经济议程的下一个主要内容。</blockquote></p><p> Sen. Joe Manchin, an essential vote in an evenly divided Senate, has repeatedly criticized the size of the bill — now reduced to about half its original size largely in response to his concerns — and on Wednesday the <a href=\"https://laohu8.com/S/WSTC\">West</a> Virginia Democrat indicated that the latest numbers may make him dig in on his position.</p><p><blockquote>参议员乔·曼钦(Joe Manchin)是参议院平分秋色中的重要一票,他一再批评该法案的规模——现在已减少到原来规模的一半左右,主要是为了回应他的担忧——周三,<a href=\"https://laohu8.com/S/WSTC\">西方</a>弗吉尼亚州民主党人表示,最新的数据可能会让他坚持自己的立场。</blockquote></p><p> “By all accounts, the threat posed by record inflation to the <a href=\"https://laohu8.com/S/AFG\">American</a> people is not ‘transitory’ and is instead getting worse,” Manchin tweeted. “From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.”</p><p><blockquote>他说:“从各方面来看,创纪录的通胀对本港经济构成的威胁<a href=\"https://laohu8.com/S/AFG\">美国的</a>人们并不是‘暂时的’,而是变得更糟,”曼钦在推特上写道。“从杂货店到加油站,美国人知道通货膨胀税是真实的,华盛顿不能再忽视美国人每天感受到的经济痛苦。”</blockquote></p><p> Biden responded to those concerns in astatementWednesday, arguing that the recently passed infrastructure bill will help ease supply bottlenecks, while the larger social spending package still under debate would fight inflation by reducing the cost of child care, prescription drugs and health coverage.</p><p><blockquote>拜登周三在一份声明中回应了这些担忧,称最近通过的基础设施法案将有助于缓解供应瓶颈,而仍在辩论中的更大社会支出计划将通过降低儿童保育、处方药和医疗保险的成本来对抗通货膨胀。</blockquote></p><p> Still, Biden sent a signal that he recognizes that rising prices are a problem. “Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me,” he said in a speech at the port of Baltimore. He said he has ordered White House officials to address the issue: “I have directed my <a href=\"https://laohu8.com/S/NHLD\">National</a> Economic Council to pursue means to try to further reduce these costs, and have asked the Federal Trade Commission to strike back at any market manipulation or price gouging in [the energy] sector.”</p><p><blockquote>尽管如此,拜登还是发出了一个信号,即他认识到物价上涨是一个问题。“通货膨胀伤害了美国人的钱包,扭转这一趋势是我的首要任务,”他在巴尔的摩港的一次演讲中说。他说,他已经命令白宫官员解决这个问题:“我已经指示我的<a href=\"https://laohu8.com/S/NHLD\">国家的</a>经济委员会将寻求进一步降低这些成本的方法,并要求联邦贸易委员会对[能源]行业的任何市场操纵或价格欺诈行为进行反击。”</blockquote></p><p> <b>The debate over Biden’s spending plan:</b>At the same time, many economists have pushed back against the idea that spending provided by the Build Back Better plan would be inflationary in the first place. Assuming its cost is fully or largely offset, the legislation would produce only limited inflationary effects, and perhaps none at all, depending on how it’s implemented. On top of that, the spending is spread out over 10 years, with its annual effect being only a fraction of the overall cost.</p><p><blockquote><b>关于拜登支出计划的争论:</b>与此同时,许多经济学家反驳了“重建更好”计划提供的支出首先会引发通货膨胀的观点。假设其成本被完全或大部分抵消,该立法只会产生有限的通胀影响,甚至可能根本不会产生,具体取决于其实施方式。最重要的是,支出分散在10年内,其年度影响仅占总成本的一小部分。</blockquote></p><p> “The reconciliation bill would have essentially no discernible effect on the medium- or long-term path of inflation,” former White House economic adviser Jason Furman tweeted Wednesday. “That legislation should be evaluated on other criteria like what it does for opportunity, climate change & long-term growth.”</p><p><blockquote>前白宫经济顾问杰森·弗曼周三在推特上表示:“和解法案基本上不会对通胀的中长期路径产生明显影响。”“这项立法应该根据其他标准进行评估,例如它对机会、气候变化和长期增长的作用。”</blockquote></p><p> <b>More pressure on the Fed?</b>In his statement Wednesday, Biden cited the Fed’s role in fighting inflation. “I want to reemphasize my commitment to the independence of the Federal Reserve to monitor inflation, and take steps necessary to combat it,” he said.</p><p><blockquote><b>美联储面临更大压力?</b>拜登在周三的声明中提到了美联储在对抗通胀方面的作用。“我想再次强调我对美联储独立性的承诺,以监控通胀,并采取必要措施应对通胀,”他说。</blockquote></p><p> As part of an effort to withdraw its support for the economy, the central bank announced last week that it would start winding down its $120 billion per month bond-purchasing program in November, with the goal of ending it entirely by June. But it also signaled that it had no plans to raise interest rates in the near future, given the fact that millions of Americas are still out of work. Now, with the release of another month of worse-than-expected inflation data, it could face calls to act more quickly and decisively.</p><p><blockquote>作为撤回对经济支持的努力的一部分,央行上周宣布将于11月开始逐步减少每月1200亿美元的债券购买计划,目标是在6月前完全结束该计划。但它也暗示,鉴于数百万美国人仍处于失业状态,近期没有加息的计划。现在,随着又一个月差于预期的通胀数据的公布,它可能会面临评级采取更快、更果断的行动。</blockquote></p><p> “It is hard to see how the Fed will be able to stay on the sidelines much longer,” Matthew Sherwood of the Economist Intelligence <a href=\"https://laohu8.com/S/UNT\">Unit</a> told Fox Business. Katherine Judge of CIBC Economics said that the latest data “will leave more doubts in the Fed’s mind about how long they can let this inflation run.”</p><p><blockquote>经济学人智库的Matthew Sherwood表示:“很难看出美联储如何能够在更长时间内保持观望。”<a href=\"https://laohu8.com/S/UNT\">单位</a>告诉福克斯商业频道。CIBC Economics的凯瑟琳·贾奇(Katherine Judge)表示,最新数据“将让美联储更加怀疑他们能让通胀持续多久。”</blockquote></p><p></p><p> The Fed is in an increasingly difficult position, though, with its dual mandate of fighting inflation and promoting employment pulling in opposite directions. Persistent inflation could push the bank to raise interest rates sooner than it wants, but doing so could slow the recovery and the much-needed growth in payrolls.</p><p><blockquote>然而,美联储的处境越来越困难,其抗击通胀和促进就业的双重使命背道而驰。持续的通胀可能会促使央行比预期更早加息,但这样做可能会减缓复苏和急需的就业增长。</blockquote></p><p> <b>What comes next:</b>Many experts think inflation will continue to be a problem, at least in the near term. “This is going to get worse before it gets better,” Diane Swonk, chief economist at Grant Thornton,toldThe <a href=\"https://laohu8.com/S/WASH\">Washington</a> <a href=\"https://laohu8.com/S/POST\">Post</a>.</p><p><blockquote><b>接下来是什么:</b>许多专家认为通货膨胀将继续是一个问题,至少在短期内是这样。均富(Grant Thornton)首席经济学家黛安·斯旺克(Diane Swonk)告诉The<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a><a href=\"https://laohu8.com/S/POST\">张贴</a>.</blockquote></p><p> Ian Shepherdson, chief U.S. economist at High Frequency Economics, put some numbers on the gloomy outlook. “I hate to say this, but October's core CPI is just a taster,” hetweeted, referring to the core consumer price index, which rose 4.6% in October. “The next few months are going to be horrible. The y/y core rate is headed for 6-6.5% over the next three months, and it could even hit 7%.”</p><p><blockquote>高频经济公司首席美国经济学家伊恩·谢泼德森给出了一些悲观的前景。“我不想这么说,但10月份的核心CPI只是一个品尝者,”他在推特上写道,指的是10月份上涨4.6%的核心消费者价格指数。“接下来的几个月将会很糟糕。未来三个月,同比核心利率将达到6-6.5%,甚至可能达到7%。”</blockquote></p><p> At the same time, Shepherdson said that he expects things to improve significantly in the medium term. “I still think as a base case that inflation will be *way* lower a year from now,” he said.</p><p><blockquote>与此同时,谢泼德森表示,他预计情况将在中期内显着改善。“我仍然认为,作为一个基本情况,一年后通胀将会低得多,”他说。</blockquote></p><p> The <a href=\"https://laohu8.com/S/WRE\">Washington</a> Post’s Heather Long was a bit more ambiguous. “No <a href=\"https://laohu8.com/S/AONE.U\">one</a> really knows how this is going to end,” she tweeted. “The ‘consensus’ is inflation will be very high through the winter and spring. Then start to moderate. But if Fed, [White House] & Wall Street are wrong, it will get messy. And Fed will have to act (i.e. raise interest rates) in 2022.”</p><p><blockquote>The<a href=\"https://laohu8.com/S/WRE\">华盛顿州</a>波斯特的希瑟·朗有点暧昧。“不<a href=\"https://laohu8.com/S/AONE.U\">一</a>真的知道这将如何结束,”她在推特上写道。“‘共识’是通胀将在整个冬季和春季非常高。然后开始放缓。但如果美联储、(白宫)和华尔街错了,事情就会变得一团糟。美联储将不得不在2022年采取行动(即加息)。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.thefiscaltimes.com/2021/11/10/Inflation-Hits-30-Year-High-Will-It-Sink-Biden-s-Agenda\">The fiscal times</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.thefiscaltimes.com/2021/11/10/Inflation-Hits-30-Year-High-Will-It-Sink-Biden-s-Agenda","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166672248","content_text":"U.S. prices rose 6.2% over the last year, the largest annual increase since 1990, the Bureau of Labor StatisticsannouncedWednesday.\nPrices rose 0.9% in October compared to September, with the cost of energy, shelter, food and cars both new and used rising significantly during the month. On a 12-month basis, the cost of fuel oil is up about 60%, utilities are up 28% and the price of bacon is up 20%.\nIn a separate report, the Labor Department said that while wages rose on a nominal basis in October, the increase in inflation was enough to produce an overall decrease of 0.5% in wages when factoring in inflation.\nThe latest data are feeding worries that inflation will continue to be higher and more persistent during the recovery from the Covid-19 pandemic than some economists had predicted. Both the White House and the Federal Reserve have portrayed recent price hikes as largely “transitory,” driven by comparisons with numbers from last year’s pandemic and supply chain problems that will eventually resolve themselves, but Wednesday’s report is raising new doubts about those claims.\nA threat to Biden’s agenda — and presidency:Politically, the inflation numbers could make it more difficult for President Joe Biden to push through his $1.8 trillion Build Back Better bill, the next major plank of his economic agenda.\nSen. Joe Manchin, an essential vote in an evenly divided Senate, has repeatedly criticized the size of the bill — now reduced to about half its original size largely in response to his concerns — and on Wednesday the West Virginia Democrat indicated that the latest numbers may make him dig in on his position.\n“By all accounts, the threat posed by record inflation to the American people is not ‘transitory’ and is instead getting worse,” Manchin tweeted. “From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.”\nBiden responded to those concerns in astatementWednesday, arguing that the recently passed infrastructure bill will help ease supply bottlenecks, while the larger social spending package still under debate would fight inflation by reducing the cost of child care, prescription drugs and health coverage.\nStill, Biden sent a signal that he recognizes that rising prices are a problem. “Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me,” he said in a speech at the port of Baltimore. He said he has ordered White House officials to address the issue: “I have directed my National Economic Council to pursue means to try to further reduce these costs, and have asked the Federal Trade Commission to strike back at any market manipulation or price gouging in [the energy] sector.”\nThe debate over Biden’s spending plan:At the same time, many economists have pushed back against the idea that spending provided by the Build Back Better plan would be inflationary in the first place. Assuming its cost is fully or largely offset, the legislation would produce only limited inflationary effects, and perhaps none at all, depending on how it’s implemented. On top of that, the spending is spread out over 10 years, with its annual effect being only a fraction of the overall cost.\n“The reconciliation bill would have essentially no discernible effect on the medium- or long-term path of inflation,” former White House economic adviser Jason Furman tweeted Wednesday. “That legislation should be evaluated on other criteria like what it does for opportunity, climate change & long-term growth.”\nMore pressure on the Fed?In his statement Wednesday, Biden cited the Fed’s role in fighting inflation. “I want to reemphasize my commitment to the independence of the Federal Reserve to monitor inflation, and take steps necessary to combat it,” he said.\nAs part of an effort to withdraw its support for the economy, the central bank announced last week that it would start winding down its $120 billion per month bond-purchasing program in November, with the goal of ending it entirely by June. But it also signaled that it had no plans to raise interest rates in the near future, given the fact that millions of Americas are still out of work. Now, with the release of another month of worse-than-expected inflation data, it could face calls to act more quickly and decisively.\n“It is hard to see how the Fed will be able to stay on the sidelines much longer,” Matthew Sherwood of the Economist Intelligence Unit told Fox Business. Katherine Judge of CIBC Economics said that the latest data “will leave more doubts in the Fed’s mind about how long they can let this inflation run.”\nThe Fed is in an increasingly difficult position, though, with its dual mandate of fighting inflation and promoting employment pulling in opposite directions. Persistent inflation could push the bank to raise interest rates sooner than it wants, but doing so could slow the recovery and the much-needed growth in payrolls.\nWhat comes next:Many experts think inflation will continue to be a problem, at least in the near term. “This is going to get worse before it gets better,” Diane Swonk, chief economist at Grant Thornton,toldThe Washington Post.\nIan Shepherdson, chief U.S. economist at High Frequency Economics, put some numbers on the gloomy outlook. “I hate to say this, but October's core CPI is just a taster,” hetweeted, referring to the core consumer price index, which rose 4.6% in October. “The next few months are going to be horrible. The y/y core rate is headed for 6-6.5% over the next three months, and it could even hit 7%.”\nAt the same time, Shepherdson said that he expects things to improve significantly in the medium term. “I still think as a base case that inflation will be *way* lower a year from now,” he said.\nThe Washington Post’s Heather Long was a bit more ambiguous. “No one really knows how this is going to end,” she tweeted. “The ‘consensus’ is inflation will be very high through the winter and spring. Then start to moderate. But if Fed, [White House] & Wall Street are wrong, it will get messy. And Fed will have to act (i.e. raise interest rates) in 2022.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1386,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":6,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/879177534"}
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