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Reuters ·  05/03 19:45

- The U.S. Federal Reserve Should Beef up Its Quarterly "Dot Plot" of Policymakers' Interest-Rate-Path Views by Including the Individual Economic Expectations That Inform Each One, Austan Goolsbee, President of the Chicago Fed, Said on Friday.

加利福尼亞州帕洛阿爾託5月3日電(路透社)——芝加哥聯儲主席奧斯坦·古爾斯比周五表示,美國聯邦儲備委員會應通過納入爲決策者提供利率路徑觀點的季度 “點狀圖” 來加強其決策者利率路徑觀點的季度 “點狀圖”。

The Dot Plot, Published Every Three Months Since 2012, Is a Graph Depicting Where Each of the 19 U.S. Central Bankers Expect the Fed's Policy Rate to Be at the End of Each of the Next Few Years.

自2012年以來,每三個月發佈一次的點狀圖描繪了19位美國央行行長對聯儲局未來幾年年末政策利率的預期。

The Latest One, Published in March, Shows the Median Fed Policymaker Expected to Need to Cut Short-Term Borrowing Costs Three Times by the End of This Year, Though Nearly Half Saw Fewer Rate Cuts, and Several Saw Just One Rate Cut or None.

但是,3月份發佈的最新報告顯示,預計聯儲局決策者需要在今年年底之前三次削減短期借貸成本 將近一半的降息次數減少了,還有一些人只降息一次或根本沒有降息。

But in Its Current Form, Goolsbee Said in Remarks Prepared for Delivery to a Conference on Monetary Policy at Stanford University's Hoover Institution, "the Dot Plot Is Just a Collection of Opinions Without Economic Content."

但是,古爾斯比在準備向斯坦福大學胡佛研究所貨幣政策會議發表的講話中說:“點陣圖只是一組沒有經濟內容的觀點集。”

It's Impossible to Know, for Instance, IF a Policymaker Who Writes Down Fewer Rate Cuts This Year Fears the Economy Is Overheating, or Simply Believes the Economy Has the Capacity to Grow Faster and Therefore Can Tolerate Higher Rates.

例如,不可能知道今年減少降息的決策者是擔心經濟過熱,還是僅僅相信經濟有能力更快地增長,因此可以容忍更高的利率。

The Goal of Fed Communications, Goolsbee Said, Should Be to Lay Out the Rationale for Policy Decisions, and the Dot Plot Falls Short.

古爾斯比說,聯儲局通訊的目標應該是闡明政策決策的理由,但點陣圖不足。

"Because It Can’t Be Connected to the Economic Conditions the Participant Thinks Will Justify That Interest Rate, There Is Nothing to Tell US Why They Think This a Reasonable Choice," He Said. "a Matrix That Anonymously Matches the Economic Forecasts to the Rate Path for Each Participant Would Answer Some Important Questions."

他說:“由於這與參與者認爲可以證明利率合理的經濟狀況無關,因此沒有什麼可以告訴我們他們爲什麼認爲這是一個合理的選擇。”“匿名將經濟預測與每個參與者的利率路徑進行匹配的矩陣將回答一些重要問題。”

His Remarks Come After European Central Bank Board Member Isabel Schnabel Floated the Idea of Publishing an ECB "Dot Plot," and as the Fed Itself Prepares for a Review of Its Own Policy Framework, Expected to Begin Later This Year.

他的講話是在歐洲央行董事會成員伊莎貝爾·施納貝爾之後發表的 提出了發佈歐洲央行 “點陣圖” 的想法, 同時,聯儲局本身也在爲審查自己的政策框架做準備,該審查預計將於今年晚些時候開始。

Goolsbee Did Not Offer His Own Rate-Path View, or Explain the Economic Assumptions That Underlie It.

古爾斯比沒有提供自己的利率路徑觀點,也沒有解釋其基礎的經濟假設。

Earlier in the Day Goolsbee Said That Recent Cooling in the U.S. Labor Market Gave Him Added Confidence the Economy Is Not Overheating.

當天早些時候,古爾斯比表示,最近美國勞動力市場的降溫使他補充說 信心 經濟沒有過熱。


(Reporting by Ann Saphir; Editing by Leslie Adler)

(安·薩菲爾報道;萊斯利·阿德勒編輯)

((Ann.saphir@Thomsonreuters.com; 312-593-8342; Www.twitter.com/Annsaphir; Reuters Messaging: Ann.saphir.thomsonreuters.com@Reuters.net))

((Ann.saphir@Thomsonreuters.com;312-593-8342;www.twitter.com/annsaphir;路透社消息: Ann.saphir.thomsonreuters.com@Reuters.net))

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