原文标题：
Powell says 'inflation is much too high' and the Fed will take 'necessary
steps' to address.
鲍威尔说，美联储将采取“必要措施”解决通膨太高的问题
原文连结：http://ibit.ly/tOWv
发布时间：MON, MAR 21 202212:30 PM EDT
原文内容：
KEY POINTS
‧Fed Chairman Jerome Powell vowed tough action on inflation, which he said
jeopardizes the recovery.
‧美联储主席鲍威尔誓言将对通货膨胀采取强硬措施，他说通货膨胀危及经济复苏。
‧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.
‧鲍威尔表示，美联储将继续加息，直至通膨得到控制，并可能比上周的加息更为激进
，这是三年多来的首次加息。
‧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，如果有必要的话，这些利率上调可能会从传统的25个基点上调到更激进的50
个基点。
Federal Reserve Chairman Jerome Powell on Monday vowed tough action on
inflation, which he said jeopardizes an otherwise strong economic recovery.
美联储主席鲍威尔周一誓言将对通货膨胀采取强硬措施,他说通货膨胀危及原本强劲的经济
复苏.
“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.
“劳动力市场非常强劲,通膨率过高,”这位央行行长在为美国全国商业经济协会
(National Association for Business Economics)准备的讲话中表示.
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,美联储(Fed)三年多来首次加息,以抗击处于40年来最高水准的通膨.
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.
鲍威尔重申了美国联邦公开市场委员会(fomc)周三在会后声明中的立场,他说,在通膨得到
控制之前,加息将继续.他表示,如果有必要,加息幅度甚至可能高于此次会议上批准的0.25
个百分点.
“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:"我们将采取必要措施,确保物价回归稳定","特别是,如果我们得出结论认为
,在一次或多次会议上将联邦基金利率提高25个基点以上,采取更积极的行动是合适的,我
们就会这样做.如果我们决定,我们需要收紧货币政策,超越共同的中性措施,采取更加限制
性的立场,我们也会这样做."
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.
一个基点等于0.01% .联邦公开市场委员会(FOMC)官员表示,今年余下的6次会议中,每次都
可能上调利率25个基点.不过,市场价格显示,5月份会议上下一次加息的可能性大约为50个
基点.
Stocks slipped to their lows of the session after Powell’s remarks while
Treasury yields rose.
鲍威尔发表讲话后,美国股市跌至盘中低点,美国国债收益率上升.
Widely underestimated inflation"
"被广泛低估"的通货膨胀
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.
突袭式的紧缩政策,起因于12个月7.9% 的通货膨胀.美联储参考的指标显示,房价仍然上
涨了5.2% ,远高于美联储2% 的目标.
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.
正如他以前所说,鲍威尔将大部分压力归因于大流行的特定因素,特别是对商品的需求增加
,而对服务的供应无法满足.他承认美联储官员和许多经济学家“普遍低估了”这些压力
持续的时间.
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.
虽然这些恶化的因素持续存在,但自流感爆发以来,美联储和国会提供了超过10万亿美元的
财政和货币刺激.鲍威尔说,他仍然相信通货膨胀会回落到美联储的目标,但是现在是结束
历史上宽松政策的时候了.
“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.”
鲍威尔说,“随着世界最终进入一些新的正常状态,人们所希望的供应方面的恢复似乎仍然
有可能随着时间的推移而出现,但这种缓解的时机和范围非常不确定.”鲍威尔的官方头衔
现在是临时主席,他正在等待参议院确认他的第二个任期.“与此同时,在我们制定政策的
过程中,我们将关注这些问题的实际进展,而不会假设短期内会出现供应方面的显著缓解.
”
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.
鲍威尔还谈到了俄罗斯入侵乌克兰的问题,称这增加了供应链和通货膨胀的压力.在正常情
况下,美联储通常会审查这些类型的事件,而不会改变政策.然而,由于结果尚不明朗,他表
示,政策制定者必须对形势保持警惕.
“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.”
他表示: “在正常时期,当就业和通膨接近我们的目标时,货币政策将审视与大宗商品价格
冲击相关的短暂通膨爆发.”.“然而,长期高通膨可能令人不安地推高长期预期的风险正
在上升,这突显出委员会需要像我所描述的那样迅速采取行动.”
心得/评论： ※必需填写满30字，无意义者板规处分
比起上一篇的逐字稿 这篇是CNBC整理的.
反正就是在告诉大家今年还会升息很多次,而且可能会来个一次两码.
于是大家就吓坏了(?)
奇怪这不是之前就沟通过的吗 XD
不过不下点猛药的话,通膨失控造成的问题更严重就是.