我們想讓你知道的是
聯準會於 8/28 正式推出新貨幣政策框架,除了允許通膨一段時間超過 2% 外,更強調經濟復甦是當前的重點,在失業率遠低於最大就業的情況下,將使用所有貨幣政策工具給予支持 !

我們在本週一發布快報,預告聯準會可能在近期宣布新貨幣政策框架,果不其然,在 8 / 27(四)晚上 9 : 00 一年一度的全球央行年會上,Powell 發表談話的同時,Fed 直接在官網發表長期貨幣政策框架的修正聲明,聲明稿修改三大重點如下:

1 ) 最大就業部分,FOMC 強調是一個廣泛的目標,相較於過去使用"偏離(deviation)最大就業水準",改為評估"離最大就業短缺(shortfall)還差多少"。

On maximum employment, the FOMC emphasized that maximum employment is a broad-based and inclusive goal and reports that its policy decision will be informed by its "assessments of the shortfalls of employment from its maximum level." The original document referred to "deviations from its maximum level."

2 ) 物價部分,聯準會調整過去實現長期 2% 的通膨目標,改成一段時間內平均 2% 的通膨目標。並指出在通膨持續低於 2% 的時期,適當的貨幣政策會讓通膨溫和的超過 2%。

On price stability, the FOMC adjusted its strategy for achieving its longer-run inflation goal of 2 percent by noting that it "seeks to achieve inflation that averages 2 percent over time." To this end, the revised statement states that "following periods when inflation has been running persistently below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time."

3 ) 貨幣政策策略的更新,承認了長期持續的低利率為政策帶來的挑戰......?

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