Fed's Historic Dissenter Bowman Says Smaller Interest Rate Cut Was Justified: 'We Have Not Yet Achieved Our Inflation Goal'
Fed's Historic Dissenter Bowman Says Smaller Interest Rate Cut Was Justified: 'We Have Not Yet Achieved Our Inflation Goal'
Bowman said a more gradual move toward a neutral monetary policy stance would better suit economic conditions.Federal Reserve Governor Michelle W. Bowman defended her decision on Friday to withhold support for a 50-basis-point interest rate cut during this week's Federal Open Market Committee's meeting.
聯儲局理事米歇爾·W·鮑曼週五爲她在本週聯儲局公開市場委員會會議上決定不支持降低50個點子的利率一事進行了辯護。
Instead, Bowman advocated for a more measured approach and was the lone vote for a 25-basis-point reduction, citing the ongoing issue of inflation remaining above the Fed's 2% target.
相反，鮑曼主張更加審慎的態度，並且是唯一支持降低25個點子的一票，理由是通脹問題持續超過聯儲局2%的目標。
Historic Dissent Breaks Two Decades Of Unanimous Fed Calls
歷史性異見打破了兩十年來的聯儲局一致呼叫。
Bowman's dissent marked a historical moment for Federal Reserve rate moves, as it was the first time since 2005 that a Fed governor openly disagreed with a rate decision, signaling the emergence of a crack within the Fed's once-unanimous board.
鮑曼的異議標誌着聯儲局利率調整的歷史時刻，自2005年以來首次有聯儲局理事公開反對利率決定，標誌着聯儲局曾一致的理事會內部出現了裂痕。
Bowman said a more gradual move toward a neutral monetary policy stance would better suit economic conditions.
鮑曼表示，更漸進的中立貨幣政策將更適合當前經濟狀況。
"The normalization in labor market conditions is necessary to help bring wage growth down to a pace consistent with 2 percent inflation," Bowman said.
鮑曼說：「勞動力市場狀況的正常化對幫助將工資增長降至與2%通脹一致的速度是必要的。」
She also stressed that moving too aggressively with rate cuts might signal a "premature declaration victory" over inflation, potentially undermining the Fed's broader goals.
她還強調，過於激進地減息可能會傳遞出對通脹的「過早宣佈勝利」的信號，潛在地削弱了聯儲局的更廣泛目標。
Bowman cautioned that inflation, particularly core personal consumption expenditures prices, remains too high, as it continues to hover above 2% target. "We have not yet achieved our inflation goal," she said.
鮑曼警告稱，尤其是核心個人消費支出價格，通脹依然過高，繼續在2%目標上方徘徊。「我們還沒有達到我們的通脹目標，」她說。
Waller's Contrasting Optimism On Inflation
Waller對通脹持樂觀態度的對比
Bowman's remarks, however, contrasted sharply with those of Fed Governor Christopher Waller.
然而，鮑曼的講話與聯儲局理事克里斯托弗·沃勒（Christopher Waller）形成鮮明對比。
"Inflation is softening much faster than I thought it was going to," Waller told CNBC, adding that he anticipates the August Personal Consumption Expenditures monthly inflation will come in around 0.1%, with the 12-month annualized rate potentially falling below 2%.
「通脹的放緩速度比我預期的要快得多，」沃勒告訴CNBC，並補充說，他預計8月個人消費支出月度通脹率將達到約0.1%，而12個月的年化率可能會跌破2%。
Waller's more optimistic outlook on inflation led him to support a 50-basis-point rate cut, believing it was justified given the data. Nonetheless, he noted that if future economic data continues to align with expectations, he would support a 25-basis-point cut, but would be open to deeper cuts if inflation undershot expectations.
沃勒對通脹持更樂觀的展望使他支持50個點子的利率削減，認爲這是合理的，考慮到數據。然而，他指出，如果未來的經濟數據繼續與預期保持一致，他將支持25個點子的削減，但如果通脹低於預期，他願意進行更深的削減。
Market Reactions
市場反應
Fed remarks on Friday had little impact on markets, with both the dollar and Treasury yields holding broadly steady.
週五的聯儲局講話對市場影響不大，美元和國債收益率均保持相對穩定。
The U.S. stock market had a negative session on Friday, with the S&P 500 index, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), down 0.6%.
週五美國股市表現不佳，標普500指數（由SPDR標普500ETF信託（NYSE: SPY）跟蹤）下跌了0.6%。
Gold prices, as monitored through the SPDR Gold Trust (NYSE:GLD), made fresh all-time highs above $2,600 per ounce.
黃金價格，通過SPDR黃金ETF（紐交所：GLD）監測，創下每盎司超過2600美元的創紀錄新高。
- Wall Street Falls On Triple Witching Day, Fed's Waller Pushes Gold To Fresh Record Highs, FedEx Plummets: What's Driving Markets Friday?
- 華爾街在 三重巫術日、聯邦快遞股票大幅下挫和聯邦威爾推動黃金創下新高的影響下下跌：本週五市場的推動因素是什麼？
Image: Pixabay
圖片：Pixabay
譯文內容由第三人軟體翻譯。