美联储进入密集政策发声期:“鹰王”布拉德表示市场低估了加息的可能性,威廉姆斯暗示2024年降息

比推2022-12-01 tarihinde yayınlandı2022-12-02 tarihinde güncellendi

Özet

美联储政策制定者周一强调,他们将进一步提高借贷成本以抑制通胀,一位主要官员表示,他认为利率将略高于他几个月前的预测。

-威廉姆斯表示,随着通胀下降,利率可能会在 2024 年下降

-布拉德表示市场低估了加息的可能性

美联储政策制定者周一强调,他们将进一步提高借贷成本以抑制通胀,一位主要官员表示,他认为利率将略高于他几个月前的预测。

纽约联邦储备银行行长约翰威廉姆斯周一在纽约联储主办的一次活动后对记者说:“劳动力需求强劲,经济需求比我之前想象的要强劲,然后基础通胀有所上升,表明政策路径相对于 9 月份略微走高。” “变化不大,但有所提高。

在另一场活动中,圣路易斯联邦储备银行行长詹姆斯布拉德是该央行最鹰派的官员之一,他表示,他认为“市场有点低估了FOMC将不得不更加激进的风险,以便遏制我们在美国遇到的非常严重的通货膨胀。”

在连续四次加息 75 个基点后,美联储官员已表示他们计划在 12 月 13 日至 14 日的年度最后一次会议上将基准利率上调 50 个基点。政策制定者在会议期间更新经济预测时,也可能会提高他们对利率最终会达到多高的预测——尽管还不清楚提高多少。

主要利率目前处于 3.75% 至 4% 的目标范围内。根据期货合约的定价,投资者认为它明年将达到 5% 左右的峰值。

威廉姆斯同时担任制定政策的联邦公开市场委员会副主席,他考虑了最终降息的途径,但表示那一刻至少还需要一年时间。

“我确实看到一个时间点,可能在 2024 年,我们将开始降低名义利率,因为通胀正在下降,我们希望实际利率处于适当的位置,”他说。

美联储进入密集政策发声期:“鹰王”布拉德表示市场低估了加息的可能性,威廉姆斯暗示2024年降息

美联储 9 月点阵图

尽管从 9 月份开始的最新预测确实表明美联储官员预计 2024 年会降息,但政策制定者基本上回避讨论太远的预测,而是将重点放在加息和保持高利率以确保通胀下降的必要性上。

此外,克利夫兰联邦储备银行行长洛雷塔梅斯特在周一发表的英国《金融时报》采访中表示,央行尚未暂停加息行动。

威廉姆斯在纽约经济俱乐部主办的虚拟活动中表示,他的“基本观点是,我们将需要在目前的水平基础上进一步加息”,并且“我们将需要保持限制性政策一段时间”,至少到 2023 年。

布拉德在接受 MarketWatch 和巴伦周刊的网络直播采访时重申了他的观点,即美联储至少需要达到 5% 至 7% 区间的底部,才能实现政策制定者的目标,即采取足够的限制措施来遏制近四十年来最高的通胀水平。

“我认为我们必须在这里避免这种诱惑,真正保持政策利率的限制水平更长时间,以确保我们将通胀推回 2% 的目标,”他说。

11 月 1 日至 2 日的会议纪要显示,官员们普遍支持调整他们的行动,“绝大多数”同意很快就会放慢加息步伐。但关于他们最终需要将借贷成本提高到多高的看法并不那么明确,“各种”决策者认为有必要将利率提高到比预期更高的水平。

周一晚些时候,美联储副主席莱尔布雷纳德表示,在全球通胀可能不如近几十年来稳定的情况下,美国央行行长必须应对通胀预期升至 2% 目标以上的风险。

“在存在一系列长期供应冲击和高通胀的情况下,货币政策采取风险管理姿态以避免通胀预期漂移至目标之上的风险非常重要,”她说。 “一连串不利的供应冲击具有长期限制潜在产出的累积效应,可能需要收紧货币政策以恢复供需平衡。”

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