关系干事阛阓【BLK-226】kira★kira BLACK GAL 黒ギャル露出セクハラ1日店長-アダルトDVDショップの売り上げ倍増中出し計画- EMIRI，声明说起干事增速有所放缓，且 安静率小幅高潮但“看护低位”。Job gains have moderated， and the unemployment rate has moved up but remains low.
十方兄弟与学生开房关系通胀的措辞，态状高企的进度变为了 “somewhat”，此前的 “modest futher progress”转移为了“ some further progress”。Inflation has eased over the past year but remains somewhat elevated. In recent months， there has been some further progress toward the Committee's 2 percent inflation objective.
声明强调了联储的风险处罚姿态是均衡的，防范双重责任的“两头”，而非此前的仅针对通胀的“ highly attentive to inflation risks”。The economic outlook is uncertain， and the Committee is attentive to the risks to both sides of its dual mandate.
鲍威尔在问答门径的开动就强调了9月 有可能降息，但 前提是看到数据总体性地另联储惬意，而非基于单个数据点作念出战术响应。似乎并 不肯意给阛阓设定 9月降息当作基准情形（提到0次或几次都是可行的）。
发布会中鲍威尔给东谈主嗅觉意图 保握风险均衡姿态的皆备中性，而非表现鸽派的降息倾向。笔者的不雅感是，本次会议恶果和发布会的表态鲍威尔 中性偏鹰派， 但阛阓的分解似乎是偏鸽派的，声明的角落变化和口气都倾向于强调“数据依赖性”和“概述考量双重责任”， 并不像上半年有明显鸽派倾向，即完全莫得显闪现9月降息的要紧感。
好意思股阛阓在发布会时代保握强势，纳指强势反弹3%，好意思债收益率及好意思元指数则在发布会时代着落。笔者合计，联储可能会 在本年8月的杰克逊霍尔会议上进一步明确降息的条件，届时鲍威尔也将取得更多充分的数据复古。
声明原文（粗体为关键变化）Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have moderated， and the unemployment rate has moved up but remains low. Inflation has eased over the past year but remains somewhat elevated. In recent months， there has been some further progress toward the Committee's 2 percent inflation objective.
最近的目的标明，经济活动陆续以肃肃的要领扩张。干事增长有所放缓，安静率有所高潮，但仍然较低。通货膨大在昔时一年中有所缓解，但仍有点偏高。近几个月来，在完结委员会2%的通胀标的方面又取得了一些推崇。
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals continue to move into better balance. The economic outlook is uncertain， and the Committee is attentive to the risks to both sides of its dual mandate.
委员会死力在较永劫期内完结充分干事和2%的通胀率。委员会判断，完结其干事和通胀标的的风险陆续趋于均衡。经济远景不宽阔，委员会温存其双重担务中的两方面风险。
In support of its goals， the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for the federal funds rate， the Committee will carefully assess incoming data， the evolving outlook， and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition， the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to returning inflation to its 2 percent objective.
为复古其标的，委员会决定将联邦基金利率标的区间看护在 5.25%至 5.5 %。在磋商对子邦基金利率标的区间进行任何调理时，委员会将仔细评估收到的数据、不停变化的远景以及风险均衡。委员会瞻望，在对通胀率握续向 2% 迈进有更大信心之前，不宜裁减标的区间。此外，委员会将陆续减握国债、机构债务和机构典质贷款复古证券。委员会坚韧地死力于使通胀率回到 2% 的标的。
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.
在评估货币战术的顺应态度时，委员会将陆续监测所收到的信息对经济远景的影响。要是出现可能拦阻完结委员会标的的风险，委员会将准备酌情调理货币战术的态度。委员会的评估将磋商平素的信息，包括对劳能源阛阓现象、通胀压力和通胀预期以及金融和外洋发展的解读。
本次会议无经济预测
本文作家：朱尘Mikko【BLK-226】kira★kira BLACK GAL 黒ギャル露出セクハラ1日店長-アダルトDVDショップの売り上げ倍増中出し計画- EMIRI，泉源：智堡投研，原文标题：《好意思联储议息会议条记：虽转向中性，但对降息似有瞻念望》
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