慧通綜合報道：

北京時間7月28日凌晨消息，美國聯(lián)邦公開市場委員會（FOMC）于美國東部時間周三下午2點（北京時間周四凌晨2點）公布了貨幣政策聲明，決定將基準(zhǔn)利率維持在0.25%到0.5%的目標(biāo)區(qū)間不變。

美國聯(lián)邦公開市場委員會在這份聲明中指出，就業(yè)市場有所增強(qiáng)，經(jīng)濟(jì)活動一直都在以穩(wěn)健的速度增長。繼5月份的疲弱增長之后，6月份的就業(yè)人數(shù)強(qiáng)勁增長。整體而言，就業(yè)人數(shù)及其他就業(yè)市場指標(biāo)表明，最近幾個月以來勞動力利用率有了一些增長。聲明還特別指出，美國經(jīng)濟(jì)前景的近期風(fēng)險已經(jīng)減小。

以下是美聯(lián)儲6月份貨幣政策聲明的全文：

自聯(lián)邦公開市場委員會6月份召開會議以來所收到的信息表明，就業(yè)市場有所增強(qiáng)，經(jīng)濟(jì)活動一直都在以穩(wěn)健的速度增長。繼5月份的疲弱增長之后，6月份的就業(yè)人數(shù)強(qiáng)勁增長。整體而言，就業(yè)人數(shù)及其他就業(yè)市場指標(biāo)表明，最近幾個月以來勞動力利用率有了一些增長。家庭支出一直都在強(qiáng)勁增長，但企業(yè)固定投資則一直保持疲軟。通貨膨脹繼續(xù)低于聯(lián)邦公開市場委員會的長期目標(biāo)，這部分反映了能源價格早前的下跌以及非能源進(jìn)口產(chǎn)品價格的下跌。整體而言，最近幾個月中以市場為基礎(chǔ)的通脹補(bǔ)償指標(biāo)仍舊保持在較低水平，大多數(shù)以調(diào)查報告為基礎(chǔ)的長期通脹預(yù)期指標(biāo)則基本保持不變。

聯(lián)邦公開市場委員會正在依據(jù)其法定使命來尋求培育最大就業(yè)和物價穩(wěn)定。聯(lián)邦公開市場委員會目前預(yù)計，通過逐步調(diào)整貨幣政策立場的方式，經(jīng)濟(jì)活動將以穩(wěn)健的步伐擴(kuò)張，就業(yè)市場指標(biāo)將繼續(xù)增強(qiáng)。預(yù)計通貨膨脹近期仍將保持在較低水平，部分原因是能源價格早前的下跌，但隨著能源和進(jìn)口產(chǎn)品價格下跌的暫時性影響消散以及就業(yè)市場進(jìn)一步增強(qiáng)，通脹率將在中期上升至2%。經(jīng)濟(jì)前景的近期風(fēng)險已經(jīng)減小。聯(lián)邦公開市場委員會將繼續(xù)密切監(jiān)控通貨膨脹指標(biāo)以及全球經(jīng)濟(jì)和金融形勢的發(fā)展。

在這種背景下，聯(lián)邦公開市場委員會決定將聯(lián)邦基金利率保持在0.25%到0.5%的目標(biāo)區(qū)間不變。貨幣政策立場仍將保持寬松，從而為就業(yè)市場狀況的進(jìn)一步改善和通貨膨脹重返2%提供支持。

為了判定聯(lián)邦基金利率目標(biāo)區(qū)間未來調(diào)整的時機(jī)選擇和規(guī)模，聯(lián)邦公開市場委員會將對有關(guān)其最大就業(yè)和2%通貨膨脹目標(biāo)的已實現(xiàn)和預(yù)期經(jīng)濟(jì)狀況進(jìn)行評估。這種評估將把一系列廣泛的信息考慮在內(nèi)，包括有關(guān)就業(yè)市場狀況的指標(biāo)、通脹壓力和通脹預(yù)期指標(biāo)、以及有關(guān)金融和國際形勢發(fā)展的讀數(shù)等。鑒于目前通貨膨脹尚未達(dá)到2%的形勢，聯(lián)邦公開市場委員會將仔細(xì)監(jiān)控朝向通貨膨脹目標(biāo)的實際和預(yù)期將有的進(jìn)展。聯(lián)邦公開市場委員會預(yù)計，經(jīng)濟(jì)狀況的發(fā)展僅可令其有理由逐步上調(diào)聯(lián)邦基金利率；在一段時間之內(nèi)，聯(lián)邦基金利率很可能仍將保持在低于長期普遍值的水平。但是，聯(lián)邦基金利率的實際道路將依賴于未來數(shù)據(jù)所表明的經(jīng)濟(jì)前景。

聯(lián)邦公開市場委員會將維持現(xiàn)有的政策，將來自于所持機(jī)構(gòu)債和機(jī)構(gòu)抵押貸款支持債券的本金付款再投資到機(jī)構(gòu)抵押貸款支持債券中去，在國債發(fā)售交易中對即將到期的美國國債進(jìn)行展期，并預(yù)計直到聯(lián)邦基金利率水平的正常化進(jìn)程順利展開以前都將繼續(xù)這樣做。這項政策令聯(lián)邦公開市場委員會的長期債券持有量保持在可觀的水平，應(yīng)可有助于保持融通的金融狀況。

在此次會議上投票支持聯(lián)邦公開市場委員會貨幣政策行動的委員有：主席珍妮特·耶倫（Janet L. Yellen）、副主席威廉·杜德利（William C. Dudley）、萊爾·布萊恩納德（Lael Brainard）、詹姆斯·布拉德（James Bullard）、斯坦利·費希爾（Stanley Fischer）、洛麗塔·梅斯特（Loretta J. Mester）、杰羅姆·鮑威爾（Jerome H. Powell）、埃里克·羅森格倫（Eric Rosengren）和丹尼爾·塔魯洛（Daniel K. Tarullo）。埃絲特·喬治（Esther L. George）則投票反對此次行動，她在此次會議上更希望將聯(lián)邦基金利率的目標(biāo)區(qū)間上調(diào)至0.5%到0.75%。

美聯(lián)儲聲明原文如下：

Information received since the Federal Open Market Committee met in June indicates that the labor market strengthened and that economic activity has been expanding at a moderate rate. Job gains were strong in June following weak growth in May. On balance, payrolls and other labor market indicators point to some increase in labor utilization in recent months. Household spending has been growing strongly but business fixed investment has been soft. Inflation has continued to run below the Committee’s 2 percent longer-run objective, partly reflecting earlier declines in energy prices and in prices of non-energy imports. Market-based measures of inflation compensation remain low; most survey-based measures of longer-term inflation expectations are little changed, on balance, in recent months.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market indicators will strengthen. Inflation is expected to remain low in the near term, in part because of earlier declines in energy prices, but to rise to 2 percent over the medium term as the transitory effects of past declines in energy and import prices dissipate and the labor market strengthens further. Near-term risks to the economic outlook have diminished. The Committee continues to closely monitor inflation indicators and global economic and financial developments.

Against this backdrop, the Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent. The stance of monetary policy remains accommodative, thereby supporting further improvement in labor market conditions and a return to 2 percent inflation.

In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. In light of the current shortfall of inflation from 2 percent, the Committee will carefully monitor actual and expected progress toward its inflation goal. The Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.

The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction, and it anticipates doing so until normalization of the level of the federal funds rate is well under way. This policy, by keeping the Committee’s holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.

Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; James Bullard; Stanley Fischer; Loretta J. Mester; Jerome H. Powell; Eric Rosengren; and Daniel K. Tarullo. Voting against the action was Esther L. George, who preferred at this meeting to raise the target range for the federal funds rate to ½ to 3/4 percent.

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