美聯儲宣佈今年第二次加息

The Federal Reserve has defied a string of weak inflation figures as it lifted short-term rates by another quarter point and set out detailed plans for paring back the size of its balance sheet later this year.

美聯儲(Fed)不顧一連串疲軟的通脹數據，將短期利率再次上調25個基點，並闡明瞭今年晚些時候縮減資產負債表規模的詳細計劃。

Fed chair Janet Yellen and her colleagues boosted the target range for the federal funds rate of 1 to 1.25 per cent on Wednesday, reiterating that they expect inflation to return to target but stressing they are watching low inflation numbers “closely” after a series of disappointing readings.

週三，美聯儲主席珍妮特?耶倫(Janet Yellen)及其他官員將聯邦基金利率的目標區間上調到1%至1.25%，重申他們預計通脹將回到目標水平，但強調稱，在一系列令人失望的數據後他們正在“密切”關注偏低的通脹數據。

Fed policymakers stuck with forecasts pointing to further rate increases in the coming years, including a further quarter-point increase by the end of 2017.

美聯儲政策制定者維持了指向未來幾年進一步加息的預測，包括在2017年底前再次加息25個基點。

Ms Yellen said in a press conference that the rate rise reflected the “progress the economy has made and is expected to make towards the maximum employment and price stability objectives assigned to us by law.” She added that economic growth appeared to have rebounded from earlier this year. “We continue to expect that the economy will expand at a moderate pace in the next few years.”

耶倫在記者會上表示，此次加息反映了“經濟已經取得的進展，以及朝着最大就業和法律規定的價格穩定目標預計將會取得的進展。”她補充稱，今年早些時候經濟增長似乎已經反彈。“我們繼續認爲未來幾年經濟將以溫和速度擴張。”

Mr Yellen also acknowledged the weaker inflation readings of late, but insisted they were significantly driven by one-off reductions in categories of prices such as wireless telephone services and prescription drugs. “The committee still expects inflation to move up and stabilise at around 2 per cent in the next couple of years,” said Ms Yellen.

耶倫也承認近來出現了較爲疲弱的通脹數據，但她堅稱，這些數據在很大程度上受手機服務和處方藥等價格類別一次性下調所推動。“委員會仍然預期未來兩年通脹將會上揚，並在2%左右企穩。”

“We continue to expect the ongoing strength of the economy will warrant gradual increases in the federal funds rate to sustain a healthy labour market and stabilise inflation around our 2 per cent longer-run objective.”

“我們繼續預期，持續的經濟強勁程度將支持聯邦基金利率逐漸上調，以維持健康的勞動力市場，並使通脹在我們的長期目標2%左右企穩。”

For the first time the Fed’s post-meeting statement confirmed that policymakers expect to begin a “normalisation” programme that will reduce the size of a balance sheet that was swollen during crisis-era interventions. In a separate document the Fed for the first time gave detailed figures for how it plans to phase out reinvestments of the proceeds of maturing securities on its $4.5tn balance sheet.

美聯儲會後聲明首次證實，政策制定者預計將啓動“正常化”計劃——縮減在危機時代實施干預期間不斷擴大的資產負債表。在另一份文件中，美聯儲首次給出了詳細數據，說明其計劃如何分階段停止對其4.5萬億美元資產負債表上到期證券的所得進行再投資。