Fed Raises Interest Rate by 25 Basis Points 07/26/23

近期的指標顯示，經濟活動正在以適度的速度擴展。近幾個月的就業增長強勁，失業率保持在低水平。通脹依然處於較高水平。

美國銀行係統健全且有韌性。對家庭和企業的更緊的信貸條件可能會對經濟活動、雇傭和通脹產生影響。這些影響的程度仍然不確定。委員會對通脹風險保持高度警覺。

委員會尋求實現最大就業和長期內的2%的通脹率。為支持這些目標，委員會決定將聯邦基金利率的目標區間提高到5-1/4至5-1/2%。委員會將繼續評估額外信息及其對貨幣政策的影響。在決定可能需要進一步加強政策以使通脹率在一段時間內回到2%的程度時，委員會將考慮貨幣政策緊縮的累積效應，貨幣政策影響經濟活動和通脹的滯後情況，以及經濟和金融發展。此外，委員會將繼續按照先前公布的計劃，減少其持有的國債和機構債務，以及機構抵押貸款支持證券。委員會強烈致力於將通脹率回歸其2%的目標。

在評估貨幣政策的適當立場時，委員會將繼續監測新的信息對經濟前景的影響。如果出現可能阻礙委員會實現其目標的風險，委員會將做好調整貨幣政策立場的準備。委員會的評估將考慮大量的信息，包括勞動市場狀況、通脹壓力和通脹預期，以及金融和國際發展的閱讀。

投票讚成此次貨幣政策行動的有：傑羅姆·H·鮑威爾，主席；約翰·C·威廉姆斯，副主席；邁克爾·S·巴爾；米歇爾·W·鮑曼；麗莎·D·庫克；奧斯丹·D·古爾斯比；帕特裏克·哈克；菲利普·N·傑斐遜；尼爾·卡什卡裏；洛麗·K·洛根；和克裏斯托弗·J·沃勒。

 

Recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated. The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 5-1/4 to 5-1/2 percent. The Committee will continue to assess additional information and its implications for monetary policy. In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Lisa D. Cook; Austan D. Goolsbee; Patrick Harker; Philip N. Jefferson; Neel Kashkari; Lorie K. Logan; and Christopher J. Waller. please translate into chinese