<p>尽管有两位官员呼吁降息，但美联储政策制定者在决定维持利率不变方面大致达成一致，尽管几位官员表示如果通胀持续高企，可能会考虑加息。</p>
<p>美联储货币政策委员会（FOMC）1 月份会议的纪要于周三发布，显示一些政策制定者支持在公告中加入表明未来可能加息的语言，以应对顽固的通胀。</p>
<p>FOMC 以 10 票对 2 票的结果投票决定将基准联邦基金利率维持在 3.5% 至 3.75% 的当前区间，联邦储备委员会成员克里斯托弗·沃勒和斯蒂芬·米兰对此表示异议，担心劳动力市场。通胀仍高于美联储 2% 的目标，这让其他人对进一步降息感到犹豫。</p>
<p>&#34;几位与会者表示，他们会支持对委员会未来利率决策的双向描述，反映出如果通胀持续高于目标水平，可能适当提高联邦基金利率目标区间，&#34; FOMC 纪要指出。</p>
<p><strong>鲍威尔表示，因顽固的通胀迫使美国人 “节省开支”，家庭预算受到挤压</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/10/931/523/jerome-powell-fomc-oct.png/query-dGw9MSZ2ZT0x?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/10/931/523/jerome-powell-fomc-oct.png/query-dGw9MSZ2ZT0x"/></p>
<p>美联储主席杰罗姆·鲍威尔表示，如果不是关税的影响，通胀将更接近 2%。(Jim Watson/AFP/Getty Images)</p>
<p>纪要还指出，几位政策制定者&#34;评论称，如果通胀按预期下降，进一步下调联邦基金利率目标区间可能是合适的。&#34;</p>
<p>&#34;一些与会者评论称，考虑到委员会仔细评估即将到来的数据，维持政策利率稳定一段时间可能是合适的，其中一些与会者认为，直到有明确迹象表明去通胀的进展稳步回归正轨，额外的政策宽松可能不必要，&#34; 纪要中提到。</p>
<p><strong>美联储维持利率不变，在经济不确定性中暂停降息</strong></p>
<p><img src="https://imageproxy.pbkrs.com/https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/09/931/523/stephen-miran-fed-governor.png/query-dGw9MSZ2ZT0x?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/09/931/523/stephen-miran-fed-governor.png/query-dGw9MSZ2ZT0x"/></p>
<p>美联储理事斯蒂芬·米兰是两位对美联储决定维持利率不变表示异议的政策制定者之一。(Michael Nagle/Bloomberg/Getty Images)</p>
<p>美联储首选的通胀指标——个人消费支出（PCE）指数在去年年底时远高于中央银行 2% 的长期通胀目标。</p>
<p>2025 年 4 月，PCE 通胀年同比降至 2.2%，为 2025 年最低水平，也是自 2024 年 9 月以来的最低读数。核心 PCE（不包括波动较大的食品和能源价格）在 2025 年 4 月为 2.6%，为自 2024 年 6 月以来的最低水平。</p>
<p><strong>美联储的米兰坚持呼吁今年大幅降息</strong></p>
<p>特朗普政府在 4 月初的 “解放日” 宣布的关税以及这些进口税的实施导致去年通胀上升，推动 PCE 上升。</p>
<p>最新的 PCE 通胀读数为 11 月份，达到了 2.8%，与 9 月份的读数相同，成为自 2023 年 10 月以来的最高水平。核心 PCE 在 11 月份也为 2.8%。</p>
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<p>美联储主席杰罗姆·鲍威尔在 FOMC 决定后的 1 月新闻发布会上表示，如果不是关税对商品价格的影响，核心 PCE 通胀将&#34;略高于 2%&#34;。</p>

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<p>美联储官员基本一致同意将利率维持在 3.5%-3.75% 不变，但有些官员表示如果通胀持续高企，可能会加息。1 月份的联邦公开市场委员会（FOMC）会议纪要显示两名成员存在分歧，他们对劳动力市场和通胀超过 2% 目标表示担忧。一些政策制定者建议在未来的利率决策中采取双向方法，而另一些则认为如果通胀下降，降息可能是合适的。最新的个人消费支出（PCE）通胀率报告为 2.8%，核心 PCE 也为 2.8%。美联储主席鲍威尔指出，关税对通胀水平产生了影响</p>

<p>Federal Reserve policymakers were mostly in agreement on the decision to leave interest rates unchanged despite two calling for cuts, though several signaled that rate hikes could be on deck if inflation remains elevated.</p>
<div class="lb-trans"><p>尽管有两位官员呼吁降息，但美联储政策制定者在决定维持利率不变方面大致达成一致，尽管几位官员表示如果通胀持续高企，可能会考虑加息。</p>
</div><p>The minutes for the January meeting of the Federal Open Market Committee (FOMC), the Fed's monetary policy-setting panel, were released on Wednesday and showed that some policymakers were in favor of including language signaling the possibility of future rate hikes to tame stubborn inflation in the announcement.</p>
<div class="lb-trans"><p>美联储货币政策委员会（FOMC）1 月份会议的纪要于周三发布，显示一些政策制定者支持在公告中加入表明未来可能加息的语言，以应对顽固的通胀。</p>
</div><p>The FOMC voted 10-2 to leave the benchmark federal funds rate at its current range of 3.5% to 3.75%, with Fed Governors Christopher Waller and Stephen Miran dissenting over concerns about the labor market. Inflation has remained elevated above the Fed's 2% target, which has given others pause about further rate cuts.</p>
<div class="lb-trans"><p>FOMC 以 10 票对 2 票的结果投票决定将基准联邦基金利率维持在 3.5% 至 3.75% 的当前区间，联邦储备委员会成员克里斯托弗·沃勒和斯蒂芬·米兰对此表示异议，担心劳动力市场。通胀仍高于美联储 2% 的目标，这让其他人对进一步降息感到犹豫。</p>
</div><p>&#34;Several participants indicated that they would have supported a two-sided description of the Committee's future interest rate decisions, reflecting the possibility that upward adjustments to the target range for the federal funds rate could be appropriate if inflation remains at above-target levels,&#34; the FOMC minutes noted.</p>
<div class="lb-trans"><p>&#34;几位与会者表示，他们会支持对委员会未来利率决策的双向描述，反映出如果通胀持续高于目标水平，可能适当提高联邦基金利率目标区间，&#34; FOMC 纪要指出。</p>
</div><p><strong>POWELL SAYS AMERICANS FORCED TO 'ECONOMIZE' AS STUBBORN INFLATION SQUEEZES HOUSEHOLD BUDGETS</strong></p>
<div class="lb-trans"><p><strong>鲍威尔表示，因顽固的通胀迫使美国人 “节省开支”，家庭预算受到挤压</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/10/931/523/jerome-powell-fomc-oct.png/query-dGw9MSZ2ZT0x" alt="" original-src="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/10/931/523/jerome-powell-fomc-oct.png?ve=1&amp;tl=1"/></p>
<p>Federal Reserve Chair Jerome Powell said inflation would be closer to 2% but for the effects of tariffs. (Jim Watson/AFP/Getty Images)</p>
<div class="lb-trans"><p>美联储主席杰罗姆·鲍威尔表示，如果不是关税的影响，通胀将更接近 2%。(Jim Watson/AFP/Getty Images)</p>
</div><p>The minutes also noted several policymakers &#34;commented that further downward adjustments to the target range for the federal funds rate would likely be appropriate if inflation were to decline in line with their expectations.&#34;</p>
<div class="lb-trans"><p>纪要还指出，几位政策制定者&#34;评论称，如果通胀按预期下降，进一步下调联邦基金利率目标区间可能是合适的。&#34;</p>
</div><p>&#34;Some participants commented that it would likely be appropriate to hold the policy rate steady for some time as the Committee carefully assesses incoming data, and a number of these participants judged that additional policy easing may not be warranted until there was clear indication that the progress of disinflation was firmly back on track,&#34; the minutes said.</p>
<div class="lb-trans"><p>&#34;一些与会者评论称，考虑到委员会仔细评估即将到来的数据，维持政策利率稳定一段时间可能是合适的，其中一些与会者认为，直到有明确迹象表明去通胀的进展稳步回归正轨，额外的政策宽松可能不必要，&#34; 纪要中提到。</p>
</div><p><strong>FED HOLDS INTEREST RATES STEADY, PAUSING RATE CUTS AMID ECONOMIC UNCERTAINTY</strong></p>
<div class="lb-trans"><p><strong>美联储维持利率不变，在经济不确定性中暂停降息</strong></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/09/931/523/stephen-miran-fed-governor.png/query-dGw9MSZ2ZT0x" alt="" original-src="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/09/931/523/stephen-miran-fed-governor.png?ve=1&amp;tl=1"/></p>
<p>Fed Governor Stephen Miran was one of two policymakers to dissent from the Fed's decision to leave rates steady. (Michael Nagle/Bloomberg/Getty Images)</p>
<div class="lb-trans"><p>美联储理事斯蒂芬·米兰是两位对美联储决定维持利率不变表示异议的政策制定者之一。(Michael Nagle/Bloomberg/Getty Images)</p>
</div><p>The Fed's preferred inflation gauge, the personal consumption expenditures (PCE) index, was elevated well above the central bank's 2% long-run inflation target at the end of last year.</p>
<div class="lb-trans"><p>美联储首选的通胀指标——个人消费支出（PCE）指数在去年年底时远高于中央银行 2% 的长期通胀目标。</p>
</div><p>PCE inflation was at its lowest year-over-year level in 2025 when it declined to 2.2% in April, which was the lowest reading since September 2024. Core PCE, which excludes volatile food and energy prices, was 2.6% in April 2025, the lowest level since June 2024.</p>
<div class="lb-trans"><p>2025 年 4 月，PCE 通胀年同比降至 2.2%，为 2025 年最低水平，也是自 2024 年 9 月以来的最低读数。核心 PCE（不包括波动较大的食品和能源价格）在 2025 年 4 月为 2.6%，为自 2024 年 6 月以来的最低水平。</p>
</div><p><strong>FED'S MIRAN MAINTAINS CALL FOR AGGRESSIVE INTEREST RATE CUTS THIS YEAR</strong></p>
<div class="lb-trans"><p><strong>美联储的米兰坚持呼吁今年大幅降息</strong></p>
</div><p>The Trump administration's tariff announcements on &#34;Liberation Day&#34; in early April and the implementation of those import taxes contributed to a rise in inflation last year, which drove PCE higher.</p>
<div class="lb-trans"><p>特朗普政府在 4 月初的 “解放日” 宣布的关税以及这些进口税的实施导致去年通胀上升，推动 PCE 上升。</p>
</div><p>The most recent PCE inflation reading was for the month of November, when it reached 2.8%, equaling its September reading, which was the highest level since October 2023. Core PCE was also 2.8% in November.</p>
<div class="lb-trans"><p>最新的 PCE 通胀读数为 11 月份，达到了 2.8%，与 9 月份的读数相同，成为自 2023 年 10 月以来的最高水平。核心 PCE 在 11 月份也为 2.8%。</p>
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</div><p>Fed Chair Jerome Powell said at his January press conference following the FOMC decision that core PCE inflation would be running &#34;just a bit above 2%&#34; if not for the effects of tariffs on goods prices.</p>
<div class="lb-trans"><p>美联储主席杰罗姆·鲍威尔在 FOMC 决定后的 1 月新闻发布会上表示，如果不是关税对商品价格的影响，核心 PCE 通胀将&#34;略高于 2%&#34;。</p>
</div>

随着通胀持续顽固，美联储内部的异议正在增加，一些官员正在考虑重新加息