\u4e0b\u8f7d\u65b0\u6d6a\u8d22\u7ecfAPP\uff0c\u4e86\u89e3\u5168\u7403\u5b9e\u65f6\u6c47\u7387<\/p>\n<\/blockquote>\n
\u3000\u3000\u9648\u8fbe\u98de\u5168\u7403\u5b8f\u89c2\u7b56\u7565<\/p>\n
<\/span><\/p>\n \u3000\u3000\u6587 | \u90b5\u5b87 \u9648\u8fbe\u98de \u539f\u6587\u9996\u53d1\u6f8e\u6e43 <\/p>\n \u3000\u3000\u5199\u5728\u524d\u9762\u7684\u8bdd\uff1a<\/strong><\/p>\n \u3000\u3000\u4e00\u8c08\u5230\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u5927\u5bb6\u9996\u5148\u60f3\u5230\u7684\u80af\u5b9a\u662fQE\u3002\u5176\u5b9e\uff0c\u5e02\u573a\u5173\u4e8e\u7f8e\u8054\u50a8\u201c\u524d\u77bb\u6307\u5f15\u201d\u7684\u7814\u7a76\u5b8c\u5168\u4e0d\u591f\u3002\u7b80\u5355\u800c\u8a00\uff0c\u5c31\u662f\u4e0e\u5e02\u573a\u6c9f\u901a\u7684\u827a\u672f\u3002\u8fd9\u662f\u5efa\u7acb\u5728\u5b66\u672f\u754c\u5bf9\u9884\u671f<\/strong>\u7684\u91cd\u8981\u6027\u7684\u7814\u7a76\u57fa\u7840\u4e0a\u7684\uff0c\u4e5f\u662f\u4e3a\u4ec0\u4e48\u7f8e\u8054\u50a8\u5982\u6b64\u5f3a\u8c03\u653f\u7b56\u53ef\u4fe1\u5ea6\u7684\u539f\u56e0\u3002\u6240\u8c13\u201c\u4e0d\u8981\u7ad9\u5728\u7f8e\u8054\u50a8\u5bf9\u7acb\u9762\u201d\uff0c\u5c31\u662f\u5bf9\u7f8e\u8054\u50a8\u516c\u4fe1\u529b\u7684\u8912\u5956\u3002\u5b9e\u8bc1\u4e2d\u770b\u5230\u7684\u8bb8\u591a\u653f\u7b56\u7684\u975e\u5bf9\u79f0\u6027\uff0c\u6bd4\u5982QE\u548c\u7f29\u8868\u5bf9\u671f\u9650\u6ea2\u4ef7\u7684\u975e\u5bf9\u79f0\u5f71\u54cd\uff0c\u90fd\u53e0\u52a0\u4e86\u524d\u77bb\u6307\u5f15\u7684\u529b\u91cf\u30026\u6708FOMC\u4f1a\u8bae\u5728\u5373\uff0c\u5e02\u573a\u9884\u671f\u5927\u6982\u7387\u52a0\u606f50bp\uff08CME\u5b98\u7f51\u4e3a75bp\uff09\uff0c\u5b8f\u89c2\u9884\u6d4b\uff08SEP\uff09\u548c\u9c8d\u5a01\u5c14\u7684\u4f1a\u540e\u58f0\u660e\u66f4\u4e3a\u91cd\u8981\u3002\u5e0c\u671b\u672c\u6587\u5bf9\u5927\u5bb6\u7406\u89e3\u7f8e\u8054\u50a8\u201c\u6c9f\u901a\u7684\u827a\u672f\u201d\u6709\u5e2e\u52a9\u3002<\/p>\n \u3000\u3000\u6587\u672b\u52a0\u5165\u6211\u7684\u77e5\u8bc6\u661f\u7403\uff0c\u4e00\u8d77\u5173\u6ce8FOMC6\u6708\u4f1a\u8bae\u3002<\/strong><\/p>\n \u3000\u3000\u540e\u5371\u673a\u65f6\u4ee3\u7f8e\u8054\u50a8\u8d27\u5e01\u653f\u7b56\u6846\u67b6\u7684\u4e00\u4e2a\u91cd\u5927\u53d8\u9769\u5c31\u662f\u524d\u77bb\u6307\u5f15\uff0c\u4e3b\u8981\u8868\u73b0\u4e3a\u8d27\u5e01\u653f\u7b56\u7684\u5236\u5ea6\u5316\u548c\u900f\u660e\u5316\u3002\u6838\u5fc3\u8981\u4e49\u662f\u7f8e\u8054\u50a8\u5982\u4f55\u4e0e\u5e02\u573a\u6c9f\u901a\uff0c\u5f25\u5408\u5206\u6b67\uff0c\u7a33\u5b9a\u9884\u671f\u3002\u5176\u91cd\u8981\u610f\u4e49\u5728\u56fd\u5185\u88ab\u5ffd\u89c6\u4e86\uff0c\u4e5f\u662f\u4e2d\u56fd\u8d27\u5e01\u653f\u7b56\u7684\u201c\u77ed\u677f\u201d\u3002<\/p>\n \u3000\u3000\u65f6\u95f4\u89c4\u5219\u4e0e\u72b6\u6001\u89c4\u5219<\/strong><\/p>\n \u3000\u3000\u57282002\u5e74\u6210\u4e3aFOMC\u7406\u4e8b\u4e4b\u524d\uff0c\u4f2f\u5357\u514b\u5728\u7814\u7a76\u4e2d\u5c31\u6df1\u523b\u5730\u8ba4\u8bc6\u5230\u8d27\u5e01\u653f\u7b56\u900f\u660e\u5ea6\u548c\u4fe1\u53f7\u51c6\u786e\u6027\u7684\u91cd\u8981\u6027\u3002\u57282006\u5e74\u6210\u4e3a\u7f8e\u8054\u50a8\u4e3b\u5e2d\u4e4b\u540e\uff0c\u4f2f\u5357\u514b\u6700\u62c5\u5fc3\u51fa\u73b0\u4e24\u79cd\u5206\u6b67\uff1a\u4e00\u662fFOMC\u7406\u4e8b\u4e4b\u95f4\u7684\u5206\u6b67\uff1b\u4e8c\u662fFOMC\u4e0e\u5e02\u573a\u7684\u5206\u6b67\u3002\u65e0\u8bba\u54ea\u4e00\u79cd\uff0c\u90fd\u6709\u53ef\u80fd\u5f15\u53d1\u5e02\u573a\u7684\u6050\u614c\u30022013\u5e74\u7684\u201c\u7f29\u51cf\u6050\u614c\u201d\u5c31\u662f\u7ecf\u5178\u7684\u53cd\u9762\u6848\u4f8b\u30022021\u5e74\u7684\u201c\u7f29\u51cf\u5e73\u9759\u201d\uff08taper tranquility\uff09\u5219\u4ece\u6b63\u9762\u8bba\u8bc1\u4e86\u8fd9\u4e00\u70b9\u3002<\/p>\n \u3000\u3000\u524d\u77bb\u6307\u5f15\u9996\u5148\u8868\u73b0\u5728\u5bf9\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u6307\u5f15\u4e0a\u3002\u5728\u5386\u53f2\u4e0a\uff0c\u6bcf\u5f53\u653f\u7b56\u5229\u7387\u5904\u4e8e\u8f83\u4f4e\u6c34\u5e73\u65f6\uff0c\u5e02\u573a\u603b\u662f\u9884\u671f\u52a0\u606f\u6e10\u884c\u6e10\u8fd1\u3002\u5373\u4f7f\u7f8e\u8054\u50a8\u6ca1\u6709\u52a0\u606f\uff0c\u4e5f\u4f1a\u51fa\u73b0\u653f\u7b56\u6536\u7d27\u7684\u6548\u679c\u3002<\/p>\n \u3000\u3000\u57282009\u5e743\u6708\u542f\u52a8QE1\u65f6\uff0c\u4f2f\u5357\u514b\u8868\u793a\u201c\u8054\u90a6\u57fa\u91d1\u5229\u7387\u5c06\u5728\u5f88\u957f\u4e00\u6bb5\u65f6\u671f\u5185\u5904\u4e8e\u5f02\u5e38\u4f4e\u7684\u6c34\u5e73<\/strong>\u201d\u3002\u4e0e\u683c\u6797\u65af\u6f58\u65f6\u4ee3\u76f8\u6bd4\uff0c\u8fd9\u79cd\u8868\u8ff0\u5df2\u7ecf\u5f88\u76f4\u63a5\u4e86\uff0c\u4f46\u8fd8\u4e0d\u591f\u76f4\u767d\u2014\u2014\u65e2\u6ca1\u6709\u8bf4\u660e\u201c\u5f88\u957f\u4e00\u6bb5\u65f6\u671f\u201d\u5230\u5e95\u6709\u591a\u957f\uff0c\u4e5f\u6ca1\u6709\u6307\u51fa\u4e0a\u8c03\u5229\u7387\u7684\u6761\u4ef6\u3002\u5b83\u4e0d\u662f\u4e00\u4e2a\u53ef\u4fe1\u7684\u627f\u8bfa\uff0c\u66f4\u50cf\u662f\u5bf9\u672a\u6765\u7684\u60b2\u89c2\u9884\u671f\uff0c\u4e0d\u4ec5\u4e0d\u80fd\u523a\u6fc0\u589e\u957f\uff0c\u8fd8\u8d77\u5230\u4e86\u53cd\u4f5c\u7528\u3002\u8fd9\u4e00\u8868\u8ff0\u7ef4\u6301\u4e86\u8fd1\u4e24\u5e74\u3002\u4e8b\u540e\u770b\uff0c\u5176\u6548\u679c\u5e76\u4e0d\u663e\u8457\u3002<\/p>\n \u3000\u3000\u4f2f\u5357\u514b\u4e00\u76f4\u5728\u5c1d\u8bd5\u65b0\u7684\u8868\u8ff0\u65b9\u5f0f\uff0c\u57282011\u5e749\u6708\u4f8b\u4f1a\u540e\u7684\u58f0\u660e\u4e2d\u8fdb\u4e00\u6b65\u660e\u786e\uff0c\u201c\u8d85\u4f4e\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u81f3\u5c11\u4f1a\u6301\u7eed\u52302013\u5e74\u4e2d\u671f<\/strong>\u201d\uff0c\u5373\u672a\u6765\u8fd1\u4e24\u5e74\u65f6\u95f4\u91cc\uff0c\u7f8e\u8054\u50a8\u90fd\u4e0d\u4f1a\u52a0\u606f\u3002\u8fd9\u79cd\u65f6\u95f4\u4f9d\u8d56\u578b\u7684\u89c4\u5219\u66f4\u7b80\u6d01\uff0c\u4f20\u8fbe\u7684\u4fe1\u606f\u4e5f\u66f4\u660e\u786e\u3002\u4f46\u662f\u5b83\u727a\u7272\u4e86\u653f\u7b56\u7684\u5f39\u6027\u3002\u5047\u5982\u7ecf\u6d4e\u590d\u82cf\u7684\u5f3a\u5ea6\u8d85\u9884\u671f\uff0c\u7f8e\u8054\u50a8\u5c06\u9677\u5165\u4e24\u96be\u3002\u8d39\u57ce\u8054\u50a8\u4e3b\u5e2dCharles Plosser\u63d0\u5021\u72b6\u6001\u89c4\u5219<\/strong>\u2014\u2014\u660e\u786e\u67d0\u79cd\u653f\u7b56\u9002\u7528\u7684\u73af\u5883\u3002\u4f2f\u5357\u514b\u8ba4\u4e3a\uff0c\u5728\u5f53\u65f6\u7684\u73af\u5883\u4e0b\uff0c\u5e02\u573a\u9700\u8981\u7684\u662f\u660e\u786e\u7684\u5bbd\u677e\u4fe1\u53f7\uff0c\u6240\u4ee5\u66f4\u503e\u5411\u4e8e\u65f6\u95f4\u89c4\u5219\u30022012\u5e741\u6708\u548c9\u6708\u7684\u4f8b\u4f1a\u5c06\u671f\u9650\u5206\u522b\u5ef6\u957f\u5230\u4e86\u201c\u81f3\u5c11\u52302014\u5e74\u5e95\u201d\u548c\u201c2015\u5e74\u4e2d\u201d\u3002<\/p>\n \u3000\u30002012\u5e7412\u6708\u7684\u4f8b\u4f1a\u91c7\u7eb3\u4e86\u829d\u52a0\u54e5\u8054\u50a8\u94f6\u884c\u884c\u957f\u67e5\u5c14\u65af\u2022\u57c3\u6587\u65af\uff08Charles Evans\uff09\u7684\u63d0\u8bae\uff0c\u53d8\u66f4\u4e86\u524d\u77bb\u6307\u5f15\u7684\u8868\u8ff0\uff1a\u201c\u5728\uff081\uff09\u5931\u4e1a\u7387\u4fdd\u6301\u57286.5%\u4ee5\u4e0a\u548c\uff082\uff09\u901a\u80c0\u7387\u4e0d\u8d85\u8fc72.5%\u53ca\u957f\u671f\u901a\u80c0\u9884\u671f\u4ecd\u7136\u6e29\u548c\u7684\u60c5\u51b5\u4e0b\uff0c\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5c06\u7ef4\u6301\u57280-0.25%<\/strong>\u201d\uff0c\u9996\u6b21\u660e\u786e\u5141\u8bb8\u901a\u80c0\u7387\u6682\u65f6\u7684\u8d85\u8c03\uff0c\u4ee5\u5b9e\u73b0\u5c31\u4e1a\u5e02\u573a\u66f4\u5feb\u901f\u5730\u590d\u82cf\u300211\u6708\uff0c\u7f8e\u56fd\u7684\u5931\u4e1a\u7387\u4ecd\u9ad8\u8fbe7.7%\u3002\u201c\u91cd\u8981\u7684\u662f\uff0c\u8fd9\u4e9b\u65b0\u7684\u3001\u66f4\u660e\u786e\u7684\u6761\u4ef6\u662f\u9608\u503c\uff0c\u800c\u4e0d\u662f\u89e6\u53d1\u5668\u3002\u8fd9\u5e76\u4e0d\u662f\u8bf4\uff0c\u5f53\u5931\u4e1a\u7387\u8fbe\u52306.5%\u65f6\uff0c\u7f8e\u8054\u50a8\u4e00\u5b9a\u4f1a\u63d0\u9ad8\u5229\u7387\u3002\u800c\u662f\u8bf4\uff0c\u5728\u5931\u4e1a\u7387\u964d\u81f36.5%\u4e4b\u524d\uff0c\u751a\u81f3\u4e0d\u4f1a\u8003\u8651\u52a0\u606f\u3002\u201d\u4e8b\u5b9e\u4e0a\uff0c\u57282015\u5e7412\u6708\u7b2c1\u6b21\u52a0\u606f\u65f6\uff0c\u5931\u4e1a\u7387\u5df2\u7ecf\u964d\u5230\u4e865%\u3002\u4f2f\u5357\u514b\u8ba4\u4e3a\uff0c\u524d\u77bb\u6307\u5f15\u672c\u53ef\u4ee5\u66f4\u6709\u529b\uff0c\u5c06\u5931\u4e1a\u7387\u7684\u9608\u503c\u4ece6.5%\u4e0b\u8c03\u81f36%\u751a\u81f3\u66f4\u4f4e\u3002\u4ece\u65f6\u95f4\u89c4\u5219\u5411\u72b6\u6001\u89c4\u5219\u7684\u8f6c\u6362\u660e\u786e\u4e86\u653f\u7b56\u7684\u9636\u6bb5\u6027\u76ee\u6807\uff0c\u4e5f\u589e\u52a0\u4e86\u653f\u7b56\u7684\u5f39\u6027\u3002<\/p>\n \u3000\u3000\u8d27\u5e01\u653f\u7b56\u89c4\u5219\u7684\u5236\u5ea6\u5316<\/strong><\/p>\n \u3000\u3000\u7f8e\u8054\u50a8\u5728\u524d\u77bb\u6307\u5f15\u65b9\u9762\u7684\u9769\u65b0\u6ca1\u6709\u6b62\u6b65\u4e8e\u54ac\u6587\u56bc\u5b57\uff0c\u57282012\u5e741\u6708\u53d1\u5e03\u4e86\u5176\u5386\u53f2\u4e0a\u9996\u4efd\u8d27\u5e01\u653f\u7b56\u539f\u5219\u548c\u300a\u957f\u671f\u76ee\u6807\u548c\u8d27\u5e01\u653f\u7b56\u7b56\u7565\u58f0\u660e\u300b\uff08\u4e0b\u6587\u7b80\u79f0\u201c\u58f0\u660e\u201d\uff09\u3002\u58f0\u660e\u5f00\u5b97\u660e\u4e49\uff0c\u79f0FOMC\u201c\u529b\u56fe\u5c3d\u53ef\u80fd\u6e05\u695a\u5730\u5411\u516c\u4f17\u89e3\u91ca\u5176\u8d27\u5e01\u653f\u7b56\u51b3\u5b9a\u3002\u4fe1\u53f7\u7684\u660e\u786e\u6027\u6709\u52a9\u4e8e\u5bb6\u5ead\u548c\u4f01\u4e1a\u5728\u4fe1\u606f\u5145\u5206\u7684\u60c5\u51b5\u4e0b\u505a\u51b3\u7b56\uff0c\u51cf\u5c11\u7ecf\u6d4e\u548c\u91d1\u878d\u4e0d\u786e\u5b9a\u6027\uff0c\u63d0\u9ad8\u8d27\u5e01\u653f\u7b56\u7684\u6709\u6548\u6027\uff0c\u589e\u5f3a\u900f\u660e\u5ea6\u548c\u95ee\u8d23\u5236\uff0c\u8fd9\u5728\u6c11\u4e3b\u793e\u4f1a\u4e2d\u81f3\u5173\u91cd\u8981\u3002\u201d\u5176\u4e2d\uff0c\u201c\u51cf\u5c11\u7ecf\u6d4e\u548c\u91d1\u878d\u4e0d\u786e\u5b9a\u6027\u201d\u4e0d\u4ec5\u6307\u7f8e\u56fd\uff0c\u4e5f\u5305\u62ec\u7f8e\u8054\u50a8\u8d27\u5e01\u653f\u7b56\u5bf9\u6d77\u5916\u7684\u6ea2\u51fa\u6548\u5e94\uff08Bernanke\uff0c2022\uff0c\u7b2c7\u7ae0\uff09\u3002<\/p>\n \u3000\u3000\u58f0\u660e\u65e2\u660e\u786e\u4e862%\u901a\u80c0\u76ee\u6807\u5236\uff0c\u4e5f\u9610\u660e\u4e86\u201c\u6700\u5927\u5c31\u4e1a\u201d\u7684\u542b\u4e49\u3002FOMC\u8ba4\u4e3a\uff1a\u201c2%\u7684\u901a\u80c0\u7387\u5728\u8f83\u957f\u65f6\u671f\u5185\u6700\u7b26\u5408\u7f8e\u8054\u50a8\u7684\u6cd5\u5b9a\u804c\u8d23\u3002\u5411\u516c\u4f17\u6e05\u695a\u5730\u4f20\u8fbe\u8fd9\u4e00\u901a\u80c0\u76ee\u6807\u6709\u52a9\u4e8e\u575a\u5b9a\u5730\u951a\u5b9a\u957f\u671f\u901a\u80c0\u9884\u671f\uff0c\u4ece\u800c\u4fc3\u8fdb\u4ef7\u683c\u7a33\u5b9a\uff0c\u7ef4\u6301\u9002\u5ea6\u7684\u957f\u671f\u5229\u7387\uff0c\u5e76\u589e\u5f3a\u59d4\u5458\u4f1a\u5728\u9762\u4e34\u91cd\u5927\u7ecf\u6d4e\u52a8\u8361\u65f6\u4fc3\u8fdb\u6700\u5927\u5c31\u4e1a\u7684\u80fd\u529b\u3002\u201d\u4f2f\u5357\u514b\u8ba4\u4e3a\uff0c2%\u7684\u901a\u80c0\u76ee\u6807\u6709\u52a9\u4e8e\u5e73\u8861\u7f8e\u8054\u50a8\u7684\u53cc\u91cd\u4f7f\u547d\uff1a\u5b83\u65e2\u8db3\u591f\u4f4e\u2014\u2014\u4e0e\u4ef7\u683c\u7a33\u5b9a\u7684\u4f7f\u547d\u4fdd\u6301\u4e00\u81f4\uff1b\u53c8\u8db3\u591f\u9ad8\u2014\u2014\u53ef\u4ee5\u5728\u5229\u7387\u89e6\u53ca\u96f6\u4e0b\u9650\u4e4b\u524d\u63d0\u4f9b\u8db3\u591f\u7684\u964d\u606f\u7a7a\u95f4\uff0c\u4ee5\u7ef4\u6301\u7f8e\u8054\u50a8\u8ffd\u6c42\u5145\u5206\u5c31\u4e1a\u7684\u80fd\u529b\u3002<\/p>\n \u3000\u3000\u90a3\u4e48\uff0c\u4e3a\u4ec0\u4e48\u4e0d\u91cf\u5316\u201c\u5145\u5206\u5c31\u4e1a\u201d\u76ee\u6807\uff0c\u4f8b\u5982\u660e\u786e\u4e00\u4e2a\u5408\u610f\u7684\u5931\u4e1a\u7387\u6c34\u5e73\uff1f\u58f0\u660e\u7684\u89e3\u91ca\u662f\uff1a\u201c\u6700\u5927\u5c31\u4e1a\u5728\u5f88\u5927\u7a0b\u5ea6\u4e0a\u662f\u7531\u5f71\u54cd\u52b3\u52a8\u529b\u5e02\u573a\u7ed3\u6784\u4e0e\u52a8\u6001\u7684\u975e\u8d27\u5e01\u56e0\u7d20\u51b3\u5b9a\u7684\u3002\u5b83\u4eec\u53ef\u80fd\u4f1a\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\u800c\u53d8\u5316\uff0c\u800c\u4e14\u53ef\u80fd\u65e0\u6cd5\u76f4\u63a5\u6d4b\u5ea6\u3002\u56e0\u6b64\uff0c\u4e3a\u5c31\u4e1a\u89c4\u5b9a\u4e00\u4e2a\u56fa\u5b9a\u7684\u76ee\u6807\u662f\u4e0d\u9002\u5f53\u7684\u3002\u76f8\u53cd\uff0cFOMC\u7684\u653f\u7b56\u5fc5\u987b\u4ee5\u5bf9\u6700\u9ad8\u5c31\u4e1a\u6c34\u5e73\u7684\u8bc4\u4f30\u4e3a\u4f9d\u636e\uff0c\u5e76\u8ba4\u8bc6\u5230\u8fd9\u79cd\u8bc4\u4f30\u5fc5\u7136\u662f\u4e0d\u786e\u5b9a\u7684\uff0c\u5e76\u4e14\u9700\u8981\u52a0\u4ee5\u4fee\u6b63\u3002\u201d\u5b9e\u8df5\u4e2d\uff0c\u7f8e\u8054\u50a8\u4f1a\u5e7f\u6cdb\u5730\u53c2\u8003\u52b3\u52a8\u529b\u5e02\u573a\u6307\u6807\uff0c\u5e76\u201c\u81ea\u7136\u5931\u4e1a\u7387\u201d\u4f5c\u4e3a\u8d27\u5e01\u653f\u7b56\u7684\u4e00\u4e2a\u957f\u671f\u76ee\u6807\u3002<\/p>\n \u3000\u3000\u5b8c\u5584\u5e76\u516c\u5f00\u7ecf\u6d4e\u9884\u6d4b\u4f53\u7cfb<\/strong><\/p>\n \u3000\u3000\u7f8e\u8054\u50a8\u524d\u77bb\u6307\u5f15\u7684\u53e6\u4e00\u5757\u91cd\u8981\u5185\u5bb9\u662f\u5b9a\u671f\u53d1\u5e03\u548c\u4e0d\u65ad\u5b8c\u5584\u7684\u5b8f\u89c2\u7ecf\u6d4e\u9884\u6d4b\u3002\u81ea1979\u5e74\u5f00\u59cb\uff0cFOMC\u6bcf\u534a\u5e74\u53d1\u5e03\u4e00\u6b21\u7ecf\u6d4e\u9884\u6d4b\uff0c\u65f6\u95f4\u8de8\u5ea6\u4e3a\u4e24\u5e74\uff0c\u4f5c\u4e3a\u63d0\u4ea4\u7ed9\u56fd\u4f1a\u7684\u300a\u8d27\u5e01\u653f\u7b56\u62a5\u544a\u300b\uff08Monetary Policy Report\uff09\u7684\u4e00\u90e8\u5206\uff0c\u4f46\u5f88\u5c11\u53d7\u5230\u5173\u6ce8\u3002\u57282007\u5e749\u6708\u7684\u4f8b\u4f1a\u4e0a\uff0cFOMC\u6279\u51c6\u4e86\u4f2f\u5357\u514b\u7684\u8ba1\u5212\uff0c\u9891\u7387\u63d0\u9ad8\u4e3a\u6bcf\u5b63\u5ea6\u53d1\u5e03\uff0c\u65f6\u95f4\u8de8\u5ea6\u5ef6\u957f\u5230\u4e09\u5e74\u3002\u8fd9\u5c31\u662f\u5e7f\u53d7\u5173\u6ce8\u7684\u201c\u7ecf\u6d4e\u9884\u6d4b\u6458\u8981\u201d\uff08Summary of Economic Projections \uff0cSEP\uff09\uff0c\u5305\u542b\u56db\u4e2a\u53d8\u91cf\u7684\u9884\u6d4b\uff1a\u4ea7\u51fa\u589e\u957f\u3001\u5931\u4e1a\u7387\u3001\u603b\u4f53\u901a\u80c0\u548c\u6838\u5fc3\u901a\u80c0\u3002\u81ea\u53d1\u5e03\u4ee5\u6765\uff0cSEP\u7684\u5185\u5bb9\u5728\u4e0d\u65ad\u5b8c\u5584\u30022009\u5e741\u6708\u589e\u52a0\u4e86\u201c\u957f\u671f\u9884\u6d4b\u201d\uff08over the longer run\uff09\uff0c\u5927\u81f4\u76f8\u5f53\u4e8e3-5\u5e74\u3002\u5176\u4e2d\uff0c\u957f\u671f\u5931\u4e1a\u7387\u9884\u6d4b\u5c31\u662f\u7f8e\u8054\u50a8\u8bc4\u4f30\u7684\u201c\u81ea\u7136\u5931\u4e1a\u7387\u201d\u3002\u957f\u671f\u9884\u6d4b\u662f\u5efa\u7acb\u5728\u201c\u5408\u9002\u7684\u8d27\u5e01\u653f\u7b56\u201d\u524d\u63d0\u4e0b\u7684\uff0c\u6240\u4ee5\uff0c\u4e5f\u662f\u5728\u95f4\u63a5\u4f20\u8fbe\u8d27\u5e01\u653f\u7b56\u7684\u76ee\u6807\u30022012\u5e741\u6708\u53d1\u5e03\u7684\u9884\u6d4b\u9996\u6b21\u5305\u542b\u4e86\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u672a\u6765\u8def\u5f84\uff0c\u5373\u5229\u7387\u201c\u70b9\u9635\u56fe\u201d\uff08dot plot\uff09\uff0c\u8fd8\u5305\u542b\u4e00\u5e45\u67f1\u72b6\u56fe\uff0c\u603b\u7ed3\u4e86\u7406\u4e8b\u4eec\u5bf9\u57fa\u91d1\u5229\u7387\u9996\u6b21\u4e0a\u8c03\u5e74\u4efd\u7684\u9884\u6d4b\u3002\u81f3\u6b64\uff0c\u7f8e\u8054\u50a8\u524d\u77bb\u6307\u5f15\u4f53\u7cfb\u65e5\u81fb\u5b8c\u5584\u3002<\/p>\n \u3000\u3000\u524d\u77bb\u6307\u5f15\u867d\u7136\u4e5f\u662f\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u7684\u4e00\u79cd\uff0c\u4f46\u5374\u4e0d\u9650\u4e8e\u4f7f\u7528\u5728\u201c\u96f6\u5229\u7387\u201d\u7d27\u7ea6\u675f\u65f6\u671f\u3002\u5b83\u662f\u7f8e\u8054\u50a8\u548c\u5e02\u573a\u7684\u4e00\u79cd\u4e92\u52a8\u3002\u7f8e\u8054\u50a8\u65e2\u53ef\u4ee5\u4ece\u4e2d\u6d1e\u5bdf\u5e02\u573a\u7684\u60f3\u6cd5\uff0c\u4e5f\u80fd\u5229\u7528\u5176\u5b9e\u73b0\u653f\u7b56\u76ee\u6807\u3002\u5f53\u7f8e\u8054\u50a8\u5e0c\u671b\u6539\u53d8\u653f\u7b56\u7acb\u573a\u65f6\uff0c\u53ef\u4ee5\u5f15\u5bfc\u5e02\u573a\u5148\u884c\u4e00\u6b65\uff0c\u653f\u7b56\u8ddf\u8fdb\u65f6\u5c31\u4e0d\u4f1a\u5f15\u53d1\u5e02\u573a\u6ce2\u52a8\u3002\u6e05\u6670\u7684\u89c4\u5219\u8868\u9762\u4e0a\u770b\u662f\u4e00\u4e2a\u7ea6\u675f\uff0c\u4f46\u5176\u5b9e\u4e5f\u4e00\u79cd\u81ea\u7531\u2014\u2014\u201c\u6709\u7ea6\u675f\u7684\u76f8\u673a\u6289\u62e9\u201d\uff08constrained discretion\uff09\u3002\u8fd9\u4e0e\u7f8e\u8054\u50a8\u5728\u7f8e\u56fd\u7684\u201c\u4e09\u6743\u5206\u7acb\u201d\u4f53\u5236\u4e2d\u7684\u7279\u6b8a\u5730\u4f4d\u6709\u5173\u3002\u4f5c\u4e3a\u201c\u7b2c\u56db\u6743\u529b\u201d\u673a\u6784\uff0c\u7f8e\u8054\u50a8\u62e5\u6709\u7684\u662f\u4e00\u79cd\u201c\u672a\u7ecf\u9009\u4e3e\u7684\u6743\u529b\u201d\u3002\u603b\u7edf\u867d\u7136\u6709\u4e3b\u5e2d\u7684\u63d0\u540d\u6743\uff0c\u4f46\u4e00\u7ecf\u56fd\u4f1a\u6279\u51c6\uff0c\u5c31\u4e0d\u518d\u6709\u7f62\u514d\u6743\u3002\u660e\u786e\u7684\u89c4\u5219\u6709\u52a9\u4e8e\u4fdd\u6301\u7f8e\u8054\u50a8\u5728\u653f\u6cbb\u4e0a\u7684\u72ec\u7acb\u6027\u3002\u89c4\u5219\u672c\u8eab\u662f\u660e\u786e\u7684\uff0c\u4f46\u6267\u884c\u89c4\u5219\u5374\u662f\u6709\u5f39\u6027\u7684\u3002\u6b7b\u677f\u5730\u9075\u5b88\u89c4\u5219\u786e\u5b9e\u80fd\u591f\u63d0\u9ad8\u653f\u7b56\u7684\u53ef\u9884\u6d4b\u6027\uff0c\u4f46\u89c4\u5219\u5e76\u4e0d\u80fd\u5305\u7f57\u4e07\u8c61\uff0c\u4e0d\u80fd\u9884\u6d4b\u201c\u9ed1\u5929\u9e45\u201d\uff0c\u4e5f\u4e0d\u80fd\u6307\u5bfc\u7f8e\u8054\u50a8\u5982\u4f55\u5e94\u5bf9\u201c\u9ed1\u5929\u9e45\u201d\u4e0e\u201c\u7070\u7280\u725b\u201d\u3002<\/p>\n 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\u3000\u3000\u5199\u5728…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5981","post","type-post","status-publish","format-standard","hentry","category-xinwen"],"_links":{"self":[{"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/posts\/5981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/comments?post=5981"}],"version-history":[{"count":0,"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/posts\/5981\/revisions"}],"wp:attachment":[{"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/media?parent=5981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/categories?post=5981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ma.bzhmzx.com\/index.php\/wp-json\/wp\/v2\/tags?post=5981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}