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2021-06-23

Fed will not raise rates on inflation fears alone, Powell says<blockquote>鲍威尔表示，美联储不会仅因通胀担忧而加息</blockquote>

WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell on Tuesday reaffirmed the U.S. central ba

Fed will not raise rates on inflation fears alone, Powell says<blockquote>鲍威尔表示，美联储不会仅因通胀担忧而加息</blockquote>

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We will wait for evidence of actual inflation or other imbalances,” Powell said in a hearing before a U.S. House of Representatives panel.<blockquote>鲍威尔在美国众议院小组的听证会上表示：“我们不会先发制人地加息，因为我们担心通胀可能爆发。我们将等待实际通胀或其他失衡的证据。”</blockquote> Recent price increases have pushed the consumer price index to a 13-year high, prompting Republicans on the committee to offer charts detailing spikes in consumer items like bacon and used cars to suggest price increases are getting out of hand.<blockquote>最近的价格上涨已将消费者价格指数推至13年来的新高，促使委员会中的共和党人提供图表，详细说明培根和二手车等消费品的飙升，以表明价格上涨正在失控。</blockquote> “We have unstable employment and higher inflation,” said Representative Jim Jordan, an Ohio Republican, referring to the Fed’s congressionally mandated goals of ensuring maximum employment and stable prices. “Something has to give.”<blockquote>俄亥俄州共和党众议员吉姆·乔丹表示：“我们的就业不稳定，通胀上升。”他指的是国会授权的美联储确保最大就业和稳定物价的目标。“总得有所让步。”</blockquote> The recent high inflation readings, however, “don’t speak to a broadly tight economy” that would require higher interest rates, Powell said, referring to a “perfect storm” of rising demand for goods and services and bottlenecks in supplying them as the economy reopens from the pandemic.<blockquote>然而，鲍威尔表示，最近的高通胀数据“并不能说明经济普遍吃紧”，这需要更高利率，他指的是对商品和服务的需求不断增长的“完美风暴”，以及随着经济从大流行中重新开放。</blockquote> Those price pressures should ease on their own, Powell said.<blockquote>鲍威尔表示，这些价格压力应该会自行缓解。</blockquote> In setting upcoming monetary policy, the Fed chief pledged that the central bank would keep its eyes focused on a broad set of labor market statistics, including how different racial and other groups are faring.<blockquote>在制定即将出台的货币政策时，美联储主席承诺，央行将密切关注广泛的劳动力市场统计数据，包括不同种族和其他群体的表现。</blockquote> “We will not just look at the headline numbers for unemployment,” Powell told the members of the House Select Subcommittee on the Coronavirus Crisis. “We will look at all kinds of measures ... That is the most important thing we can do” to ensure the benefits of the recovery are more fully shared.<blockquote>鲍威尔对众议院冠状病毒危机特别小组委员会成员表示：“我们不会只关注失业的总体数据。”“我们将研究各种措施……这是我们能做的最重要的事情”，以确保更充分地分享复苏的好处。</blockquote> Markets were little changed over the course of the hearing.<blockquote>听证会期间市场变化不大。</blockquote> Powell’s comments were “not really much that we haven’t heard before,” said Michael Brown, a senior analyst at payments firm Caxton, London.<blockquote>伦敦支付公司卡克斯顿的高级分析师迈克·布朗表示，鲍威尔的评论“并不是我们以前没有听说过的”。</blockquote> A SENSITIVE PIVOT<blockquote>敏感的支点</blockquote> But the session, at times a sparring match between Democrats and Republicans over the Biden administration’s economic plans, hinted at the delicate line the Fed must walk in coming months as it balances inflation risks with its promise to ensure the economy recovers all the jobs lost after the onset of the coronavirus pandemic.<blockquote>但这次会议有时是民主党和共和党就拜登政府的经济计划进行的一场较量，暗示了美联储在未来几个月必须走的微妙路线，因为它要平衡通胀风险，并承诺确保经济恢复所有在冠状病毒大流行爆发后失去的就业机会。</blockquote> Until recently there was little perceived conflict between those goals.<blockquote>直到最近，这些目标之间几乎没有明显的冲突。</blockquote> Yet since Powell last appeared before the subcommittee in September, the central bank’s outlook for inflation has doubled. Projections released by the Fed last week showed prices in 2021 are expected to increase at a 3.4% rate, compared with the 1.7% projected as of last September.<blockquote>然而，自鲍威尔上次9月份出现在小组委员会面前以来，央行的通胀前景已经翻了一番。美联储上周发布的预测显示，2021年物价预计将上涨3.4%，而截至去年9月的预测为1.7%。</blockquote> Recent job growth, meanwhile, has been slower than hoped. Some of Powell’s colleagues are now openly suggesting the pandemic prompted so many people to retire it may be unrealistic to think the United States can return to the pre-crisis level of employment before the Fed needs to tighten monetary policy.<blockquote>与此同时，最近的就业增长慢于预期。鲍威尔的一些同事现在公开表示，疫情促使如此多的人退休，认为美国可以在美联储需要收紧货币政策之前恢复到危机前的就业水平可能是不现实的。</blockquote> That is a stance counter to Powell’s own focus on restoring the economy to the conditions of early 2020, and to that of the subcommittee’s influential Democratic chairman, Representative James Clyburn of South Carolina, who pushed Powell on Tuesday to ensure a fair and equitable jobs recovery.<blockquote>这一立场与鲍威尔本人专注于将经济恢复到2020年初的状况背道而驰，也与小组委员会颇具影响力的民主党主席、南卡罗来纳州众议员詹姆斯·克莱伯恩(James Clyburn)的立场背道而驰，后者周二敦促鲍威尔确保公平公正的就业复苏。</blockquote> “Millions of Americans are depending on the Fed to continue to support the economy’s recovery,” said Clyburn, who has close ties to President Joe Biden.<blockquote>与总统乔·拜登关系密切的克莱伯恩表示：“数百万美国人依赖美联储继续支持经济复苏。”</blockquote> Biden must decide in coming weeks whether to reappoint Powell to a second four-year term. In the closing minutes of the hearing the Fed chair received a glowing review from another ranking Democrat, House Financial Services committee chair Maxine Waters of California.<blockquote>拜登必须在未来几周内决定是否重新任命鲍威尔连任第二个四年任期。在听证会的最后几分钟，美联储主席受到了另一位资深民主党人、加利福尼亚州众议院金融服务委员会主席玛克辛·沃特斯的好评。</blockquote> Waters noted that Powell was ready to “think big” about policy as the pandemic took hold and said she wanted to thank him “not only for his leadership ... but his creativity.”<blockquote>沃特斯指出，随着疫情的蔓延，鲍威尔已准备好对政策进行“大刀阔斧的思考”，并表示她要感谢他“不仅感谢他的领导力……还感谢他的创造力”。</blockquote> Still, a rapidly improving economic landscape is beginning to reshape views at the Fed about when to reduce some of those pandemic efforts as the crisis recedes.<blockquote>尽管如此，随着危机消退，迅速改善的经济形势开始重塑美联储关于何时减少部分疫情努力的看法。</blockquote> At their meeting last week Fed officials projected they may raise interest rates as soon as 2023, perhaps a year earlier than anticipated, and Powell said during a news conference that the central bank was beginning talks about when to pare down its $120 billion in monthly purchases of government bonds and securities used to support the recovery.<blockquote>在上周的会议上，美联储官员预计最早可能在2023年加息，可能比预期提前一年，鲍威尔在新闻发布会上表示，美联储正在开始讨论何时削减每月1200亿美元的购买量。用于支持复苏的政府债券和证券。</blockquote> Powell told reporters the economy “is still a ways off” from the progress in rehiring that the Fed has said it wants to see before making any changes, a cue that the timing of an actual policy shift remains up in the air.<blockquote>鲍威尔告诉记者，经济距离美联储在做出任何改变之前表示希望看到的再招聘进展“还有很长的路要走”，这表明实际政策转变的时间仍然悬而未决。</blockquote> But the change in tone and projections surprised markets, which are now keenly watching to see if the Fed is hedging its job market promises.<blockquote>但语气和预测的变化令市场感到惊讶，市场目前正在密切关注美联储是否在对冲其就业市场承诺。</blockquote> Market trading in inflation-protected and other securities shows investors betting the Fed will raise rates even faster than policymakers project, a potential loss of faith in the central bank’s willingness to run a “hot” high-inflation economy to encourage a robust jobs recovery.<blockquote>通胀保值证券和其他证券的市场交易显示，投资者押注美联储加息的速度将超过政策制定者的预期，这可能会对央行运行“热门”高通胀经济以鼓励强劲就业复苏的意愿失去信心。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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We will wait for evidence of actual inflation or other imbalances,” Powell said in a hearing before a U.S. House of Representatives panel.<blockquote>鲍威尔在美国众议院小组的听证会上表示：“我们不会先发制人地加息，因为我们担心通胀可能爆发。我们将等待实际通胀或其他失衡的证据。”</blockquote> Recent price increases have pushed the consumer price index to a 13-year high, prompting Republicans on the committee to offer charts detailing spikes in consumer items like bacon and used cars to suggest price increases are getting out of hand.<blockquote>最近的价格上涨已将消费者价格指数推至13年来的新高，促使委员会中的共和党人提供图表，详细说明培根和二手车等消费品的飙升，以表明价格上涨正在失控。</blockquote> “We have unstable employment and higher inflation,” said Representative Jim Jordan, an Ohio Republican, referring to the Fed’s congressionally mandated goals of ensuring maximum employment and stable prices. “Something has to give.”<blockquote>俄亥俄州共和党众议员吉姆·乔丹表示：“我们的就业不稳定，通胀上升。”他指的是国会授权的美联储确保最大就业和稳定物价的目标。“总得有所让步。”</blockquote> The recent high inflation readings, however, “don’t speak to a broadly tight economy” that would require higher interest rates, Powell said, referring to a “perfect storm” of rising demand for goods and services and bottlenecks in supplying them as the economy reopens from the pandemic.<blockquote>然而，鲍威尔表示，最近的高通胀数据“并不能说明经济普遍吃紧”，这需要更高利率，他指的是对商品和服务的需求不断增长的“完美风暴”，以及随着经济从大流行中重新开放。</blockquote> Those price pressures should ease on their own, Powell said.<blockquote>鲍威尔表示，这些价格压力应该会自行缓解。</blockquote> In setting upcoming monetary policy, the Fed chief pledged that the central bank would keep its eyes focused on a broad set of labor market statistics, including how different racial and other groups are faring.<blockquote>在制定即将出台的货币政策时，美联储主席承诺，央行将密切关注广泛的劳动力市场统计数据，包括不同种族和其他群体的表现。</blockquote> “We will not just look at the headline numbers for unemployment,” Powell told the members of the House Select Subcommittee on the Coronavirus Crisis. “We will look at all kinds of measures ... That is the most important thing we can do” to ensure the benefits of the recovery are more fully shared.<blockquote>鲍威尔对众议院冠状病毒危机特别小组委员会成员表示：“我们不会只关注失业的总体数据。”“我们将研究各种措施……这是我们能做的最重要的事情”，以确保更充分地分享复苏的好处。</blockquote> Markets were little changed over the course of the hearing.<blockquote>听证会期间市场变化不大。</blockquote> Powell’s comments were “not really much that we haven’t heard before,” said Michael Brown, a senior analyst at payments firm Caxton, London.<blockquote>伦敦支付公司卡克斯顿的高级分析师迈克·布朗表示，鲍威尔的评论“并不是我们以前没有听说过的”。</blockquote> A SENSITIVE PIVOT<blockquote>敏感的支点</blockquote> But the session, at times a sparring match between Democrats and Republicans over the Biden administration’s economic plans, hinted at the delicate line the Fed must walk in coming months as it balances inflation risks with its promise to ensure the economy recovers all the jobs lost after the onset of the coronavirus pandemic.<blockquote>但这次会议有时是民主党和共和党就拜登政府的经济计划进行的一场较量，暗示了美联储在未来几个月必须走的微妙路线，因为它要平衡通胀风险，并承诺确保经济恢复所有在冠状病毒大流行爆发后失去的就业机会。</blockquote> Until recently there was little perceived conflict between those goals.<blockquote>直到最近，这些目标之间几乎没有明显的冲突。</blockquote> Yet since Powell last appeared before the subcommittee in September, the central bank’s outlook for inflation has doubled. Projections released by the Fed last week showed prices in 2021 are expected to increase at a 3.4% rate, compared with the 1.7% projected as of last September.<blockquote>然而，自鲍威尔上次9月份出现在小组委员会面前以来，央行的通胀前景已经翻了一番。美联储上周发布的预测显示，2021年物价预计将上涨3.4%，而截至去年9月的预测为1.7%。</blockquote> Recent job growth, meanwhile, has been slower than hoped. Some of Powell’s colleagues are now openly suggesting the pandemic prompted so many people to retire it may be unrealistic to think the United States can return to the pre-crisis level of employment before the Fed needs to tighten monetary policy.<blockquote>与此同时，最近的就业增长慢于预期。鲍威尔的一些同事现在公开表示，疫情促使如此多的人退休，认为美国可以在美联储需要收紧货币政策之前恢复到危机前的就业水平可能是不现实的。</blockquote> That is a stance counter to Powell’s own focus on restoring the economy to the conditions of early 2020, and to that of the subcommittee’s influential Democratic chairman, Representative James Clyburn of South Carolina, who pushed Powell on Tuesday to ensure a fair and equitable jobs recovery.<blockquote>这一立场与鲍威尔本人专注于将经济恢复到2020年初的状况背道而驰，也与小组委员会颇具影响力的民主党主席、南卡罗来纳州众议员詹姆斯·克莱伯恩(James Clyburn)的立场背道而驰，后者周二敦促鲍威尔确保公平公正的就业复苏。</blockquote> “Millions of Americans are depending on the Fed to continue to support the economy’s recovery,” said Clyburn, who has close ties to President Joe Biden.<blockquote>与总统乔·拜登关系密切的克莱伯恩表示：“数百万美国人依赖美联储继续支持经济复苏。”</blockquote> Biden must decide in coming weeks whether to reappoint Powell to a second four-year term. In the closing minutes of the hearing the Fed chair received a glowing review from another ranking Democrat, House Financial Services committee chair Maxine Waters of California.<blockquote>拜登必须在未来几周内决定是否重新任命鲍威尔连任第二个四年任期。在听证会的最后几分钟，美联储主席受到了另一位资深民主党人、加利福尼亚州众议院金融服务委员会主席玛克辛·沃特斯的好评。</blockquote> Waters noted that Powell was ready to “think big” about policy as the pandemic took hold and said she wanted to thank him “not only for his leadership ... but his creativity.”<blockquote>沃特斯指出，随着疫情的蔓延，鲍威尔已准备好对政策进行“大刀阔斧的思考”，并表示她要感谢他“不仅感谢他的领导力……还感谢他的创造力”。</blockquote> Still, a rapidly improving economic landscape is beginning to reshape views at the Fed about when to reduce some of those pandemic efforts as the crisis recedes.<blockquote>尽管如此，随着危机消退，迅速改善的经济形势开始重塑美联储关于何时减少部分疫情努力的看法。</blockquote> At their meeting last week Fed officials projected they may raise interest rates as soon as 2023, perhaps a year earlier than anticipated, and Powell said during a news conference that the central bank was beginning talks about when to pare down its $120 billion in monthly purchases of government bonds and securities used to support the recovery.<blockquote>在上周的会议上，美联储官员预计最早可能在2023年加息，可能比预期提前一年，鲍威尔在新闻发布会上表示，美联储正在开始讨论何时削减每月1200亿美元的购买量。用于支持复苏的政府债券和证券。</blockquote> Powell told reporters the economy “is still a ways off” from the progress in rehiring that the Fed has said it wants to see before making any changes, a cue that the timing of an actual policy shift remains up in the air.<blockquote>鲍威尔告诉记者，经济距离美联储在做出任何改变之前表示希望看到的再招聘进展“还有很长的路要走”，这表明实际政策转变的时间仍然悬而未决。</blockquote> But the change in tone and projections surprised markets, which are now keenly watching to see if the Fed is hedging its job market promises.<blockquote>但语气和预测的变化令市场感到惊讶，市场目前正在密切关注美联储是否在对冲其就业市场承诺。</blockquote> Market trading in inflation-protected and other securities shows investors betting the Fed will raise rates even faster than policymakers project, a potential loss of faith in the central bank’s willingness to run a “hot” high-inflation economy to encourage a robust jobs recovery.<blockquote>通胀保值证券和其他证券的市场交易显示，投资者押注美联储加息的速度将超过政策制定者的预期，这可能会对央行运行“热门”高通胀经济以鼓励强劲就业复苏的意愿失去信心。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.reuters.com/article/us-usa-fed/fed-will-not-raise-rates-on-inflation-fears-alone-powell-says-idUSKCN2DY0YB\">Reuters</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.reuters.com/article/us-usa-fed/fed-will-not-raise-rates-on-inflation-fears-alone-powell-says-idUSKCN2DY0YB","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153148497","content_text":"WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell on Tuesday reaffirmed the U.S. central bank’s intent to encourage a “broad and inclusive” recovery of the job market, and not to raise interest rates too quickly based only on the fear of coming inflation.\n“We will not raise interest rates pre-emptively because we fear the possible onset of inflation. We will wait for evidence of actual inflation or other imbalances,” Powell said in a hearing before a U.S. House of Representatives panel.\nRecent price increases have pushed the consumer price index to a 13-year high, prompting Republicans on the committee to offer charts detailing spikes in consumer items like bacon and used cars to suggest price increases are getting out of hand.\n“We have unstable employment and higher inflation,” said Representative Jim Jordan, an Ohio Republican, referring to the Fed’s congressionally mandated goals of ensuring maximum employment and stable prices. “Something has to give.”\nThe recent high inflation readings, however, “don’t speak to a broadly tight economy” that would require higher interest rates, Powell said, referring to a “perfect storm” of rising demand for goods and services and bottlenecks in supplying them as the economy reopens from the pandemic.\nThose price pressures should ease on their own, Powell said.\nIn setting upcoming monetary policy, the Fed chief pledged that the central bank would keep its eyes focused on a broad set of labor market statistics, including how different racial and other groups are faring.\n“We will not just look at the headline numbers for unemployment,” Powell told the members of the House Select Subcommittee on the Coronavirus Crisis. “We will look at all kinds of measures ... That is the most important thing we can do” to ensure the benefits of the recovery are more fully shared.\nMarkets were little changed over the course of the hearing.\nPowell’s comments were “not really much that we haven’t heard before,” said Michael Brown, a senior analyst at payments firm Caxton, London.\nA SENSITIVE PIVOT\nBut the session, at times a sparring match between Democrats and Republicans over the Biden administration’s economic plans, hinted at the delicate line the Fed must walk in coming months as it balances inflation risks with its promise to ensure the economy recovers all the jobs lost after the onset of the coronavirus pandemic.\nUntil recently there was little perceived conflict between those goals.\nYet since Powell last appeared before the subcommittee in September, the central bank’s outlook for inflation has doubled. Projections released by the Fed last week showed prices in 2021 are expected to increase at a 3.4% rate, compared with the 1.7% projected as of last September.\nRecent job growth, meanwhile, has been slower than hoped. Some of Powell’s colleagues are now openly suggesting the pandemic prompted so many people to retire it may be unrealistic to think the United States can return to the pre-crisis level of employment before the Fed needs to tighten monetary policy.\nThat is a stance counter to Powell’s own focus on restoring the economy to the conditions of early 2020, and to that of the subcommittee’s influential Democratic chairman, Representative James Clyburn of South Carolina, who pushed Powell on Tuesday to ensure a fair and equitable jobs recovery.\n“Millions of Americans are depending on the Fed to continue to support the economy’s recovery,” said Clyburn, who has close ties to President Joe Biden.\nBiden must decide in coming weeks whether to reappoint Powell to a second four-year term. In the closing minutes of the hearing the Fed chair received a glowing review from another ranking Democrat, House Financial Services committee chair Maxine Waters of California.\nWaters noted that Powell was ready to “think big” about policy as the pandemic took hold and said she wanted to thank him “not only for his leadership ... but his creativity.”\nStill, a rapidly improving economic landscape is beginning to reshape views at the Fed about when to reduce some of those pandemic efforts as the crisis recedes.\nAt their meeting last week Fed officials projected they may raise interest rates as soon as 2023, perhaps a year earlier than anticipated, and Powell said during a news conference that the central bank was beginning talks about when to pare down its $120 billion in monthly purchases of government bonds and securities used to support the recovery.\nPowell told reporters the economy “is still a ways off” from the progress in rehiring that the Fed has said it wants to see before making any changes, a cue that the timing of an actual policy shift remains up in the air.\nBut the change in tone and projections surprised markets, which are now keenly watching to see if the Fed is hedging its job market promises.\nMarket trading in inflation-protected and other securities shows investors betting the Fed will raise rates even faster than policymakers project, a potential loss of faith in the central bank’s willingness to run a “hot” high-inflation economy to encourage a robust jobs recovery.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1649,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}