Full Federal Reserve resolution: For the third consecutive year, the gap between the United States and the United States has increased

Source:Zheng Yiu

ON 30 APRIL BEIJING TIME, THE FEDERAL RESERVE MAINTAINED THE BENCHMARK INTEREST RATE AT 3.50 TO 3.75 PER CENT, AND THE THIRD CONSECUTIVE MEETING WAS HELD AT A LEVEL CONSISTENT WITH MARKET EXPECTATIONS. FOMC ADOPTED THE RESOLUTION BY A VOTE OF 8 TO 4, AND MILAN VOTED AGAINST A 0.25 PERCENTAGE POINT REDUCTION IN INTEREST RATES, AND KHAMAK, KASHKALI AND LOGAN VOTED AGAINST THE INCLUSION IN THE DECLARATION OF A LIBERAL FUTURE。

Interest rate resolution as a whole

Recent indicators indicate that economic activity has expanded at a steady pace. Employment growth has generally been weak, and unemployment has not changed much in recent months。Inflation remains high, partly reflecting recent increases in global energy prices。

The Committee was committed to achieving full employment in the long term and to maintaining inflation at 2 per cent。Developments in the situation in the Middle East are exacerbating uncertainty about economic prospects。The Committee is closely following the risks faced both in its dual mandate。

In support of the above objectives, the Commission decided to maintain the interest rate target of the Federal Fund at 3.5 to 3.75 per cent。In considering the extent and timing of further adjustments to the target area, the Committee will carefully assess the latest data, the changes in outlook and the balance of risks。The Committee was firmly committed to supporting the goal of full employment and restoring inflation to 2 per cent。

In assessing the appropriate monetary policy stance, the Committee will continue to focus on the impact of new information on economic prospects. In the event of a risk that might hinder the achievement of the Commission ' s objectives, the Commission was prepared to adjust its monetary policy position as necessary. The Committee ' s assessment will take into account a wide range of information, including labour market conditions, inflationary pressures and expectations, as well as developments in the financial and international situation。

Members voting in support of this monetary policy initiative include Jerome H. Powell, Chairman; John C. Williams, Vice-Chairman; Michael S. Barr, Michael S. Barr; Michelle W. Bowman; Lisa D. Cook; Philip N. Jefferson; Anna Paulson; and Christopher J. Waller。

The members opposed to the initiative were Stephen I. Milan, who preferred a 0.25 percentage point reduction in the interest rate range of the Federal Fund at the current meeting, and Beth M. Hammack, Neil Kashkari and Lori K. Logan, who supported the maintenance of the interest rate zone of the Federal Fund, but did not support the inclusion of an easing trend in the current statement。