Federal Reserve policymakers moved into inflation-fighting mode on Wednesday, saying they would cut back more quickly on their pandemic-era stimulus at a moment of rising prices and strong economic growth, capping a challenging year with a policy shift that could usher in higher interest rates in 2022.
美国联邦储备委员会的政策制定者周三进入了抗击通胀的模式,表示在物价上涨、经济增长强劲之际,他们将更快地削减疫情时期的刺激措施,从而以政策转变为具有挑战性的一年画上句号,这可能导致2022年加息。
The central bank’s policy statement set up a more rapid end to the monthly bond-buying program that the Fed has been using throughout the pandemic to keep money chugging through markets and to bolster growth.
美联储的政策声明加快了月度债券购买计划的结束,在疫情期间,美联储一直在使用该计划保持资金在市场上流动,并提振经济增长。
A fresh set of economic projections released on Wednesday showed that officials expect to raise interest rates, which are now set near-zero, three times next year.
周三公布的一组最新经济预测显示,官员们预计明年将加息三次,目前利率设定在接近于零的水平。
“Economic developments and changes in the outlook warrant this evolution,” Jerome H. Powell, the Fed chair, said of the decision to pull back on bond purchases more quickly.
“经济发展和前景的变化证明了这种演变,”美联储主席杰罗姆·H·鲍威尔(Jerome H. Powell)在谈到更快撤出债券购买计划的决定时表示。
By tapering off its bond buying faster, the Fed is doing less to stimulate the economy with each passing month, and putting the program on track to end completely in March.
通过加快缩减债券购买规模,美联储在刺激经济方面采取的措施每过一个月都在减少,并将该计划推向3月份完全结束的轨道。
That would place Fed policymakers in a position to raise interest rates — their more traditional and more powerful tool — sooner.
这将使美联储的政策制定者能够更快地加息——他们更传统、更有力的工具。
The Fed has made clear it wants to end its bond-buying program before it raises rates, which would cool off demand by making it more expensive to borrow for a home, a car or expanding a business.
美联储已经明确表示,希望在加息之前结束债券购买计划,这将使购房、购车或扩大业务的借款成本上升,从而冷却需求。
That would in turn weigh on growth and, eventually, price gains.
这将反过来拖累经济增长,并最终导致价格上涨。
The Fed’s new economic projections suggested rates, which have been at rock-bottom since March 2020, might rise to 2.1 percent by the end of 2024.
美联储新的经济预测显示,自2020年3月以来一直处于最低水平的利率,可能会在2024年底上升到2.1%。
The Fed’s final meeting of the year completed its decisive shift away from providing full-blast support to the economy and toward guarding against the risk of rapid and lasting inflation.
美联储今年最后一次会议完成了决定性的转变,从全力支持经济转向防范快速和持久的通胀风险。
While officials spent much of the year laying out a patient path for weaning the economy off the Fed’s pandemic support, they have become more worried that a burst in prices this year could linger, resulting in a more proactive stance.
尽管官员们今年花了很多时间,制定了一条耐心的路径,让经济摆脱美联储对疫情支持的依赖,但他们已经变得更加担心,今年的价格暴涨可能会持续下去,导致他们采取更积极的立场。
Central bank officials, who are supposed to maintain price stability and foster full employment, have also been encouraged by strengthening in the job market.
美联储官员的职责是维持物价稳定和促进充分就业,他们也受到就业市场走强的鼓舞。
“In my view we are making rapid progress toward maximum employment,” Mr. Powell said in his remarks.
鲍威尔在讲话中说:“在我看来,我们在实现最大限度就业方面取得了快速进展。”
Fed officials estimated in their new economic projections that the unemployment rate would return to its prepandemic level of 3.5 percent by the end of 2022 — sooner than they had previously forecast.
美联储官员在他们的新经济预测中估计,到2022年底,失业率将回到疫情前的3.5%的水平,这比他们之前的预测要早。