Odaily星球日报讯 美联储主席鲍威尔发表讲话称，美联储不需要急于调整利率，现劳动市场稳健，整体处于平衡状态。通胀水平略高于 2%的目标，但正逐步接近该目标。关于特朗普政府政策及其经济影响的不确定性仍然很高。一些近期的通胀预期调查和市场指标因关税而上升，大多数长期通胀预期保持稳定，与 2%的目标一致。（金十）

Odaily星球日报讯 美联储主席鲍威尔发表讲话称，美联储不需要急于调整利率，现劳动市场稳健，整体处于平衡状态。通胀水平略高于 2%的目标，但正逐步接近该目标。关于特朗普政府政策及其经济影响的不确定性仍然很高。一些近期的通胀预期调查和市场指标因关税而上升，大多数长期通胀预期保持稳定，与 2%的目标一致。（金十）

美联储鲍威尔：美联储不需要急于调整利率，大多数长期通胀预期保持稳定，接近2%的目标

Odaily Odaily News reported that Federal Reserve Chairman Powell said in a speech that the Federal Reserve does not need to adjust interest rates urgently, the current labor market is stable, and the overall situation is in balance. The inflation level is slightly higher than the 2% target, but is gradually approaching the target. Uncertainty about the Trump administration's policies and their economic impact remains high. Some recent inflation expectation surveys and market indicators have risen due to tariffs, but most long-term inflation expectations remain stable and consistent with the 2% target. (<金十>)

Fed's Powell: The Fed does not need to rush to adjust interest rates, most long-term inflation expectations remain stable and close to the 2% target

Odaily reports that Federal Reserve Chairman Powell will deliver a public speech tonight, which will be an opportunity for him to publicly assess the impact of Trump's imposition of high tariffs on the US's major trading partners on the economy. Although these policy changes have occurred rapidly, and there is not much other impact visible in the data beyond the daily fluctuations in stocks, bonds, and foreign exchange markets, taken together, they have made the risk of "stagflation" a topic of discussion for forecasters again. Adam Posen, director of the Peterson Institute for International Economics in Washington, said that the Fed's responsibility is not to formulate trade or tax policy, and the government can do whatever it wants. But the Fed should more clearly point out that, based on all available mainstream evidence, tariffs are more likely to lead to (higher) inflation. As Trump is about to implement tariff policies, the level of inflation is not low. (Gold Ten)

Analyst: Fed Chairman Powell has the opportunity to make a public assessment of the impact of tariffs, and should seize it

Odaily reported that Federal Reserve Governor Bowman said that a decline in investment demand and savings could raise the neutral interest rate, and the neutral level of the central bank's policy rate may have risen since the COVID-19 pandemic. Bowman said that after the outbreak, factors such as low borrowing costs and supportive fiscal policies immediately gained the upper hand, and these factors kept the US economy essentially stable in 2021 and 2022 even after the Fed raised interest rates significantly. The same factors may have led to the so-called rise in the neutral interest rate. Economists also refer to this level as R* (R-star), which is the policy level at which the Fed neither promotes nor restricts economic activity. Bowman said, "In the recent tightening cycle, one way to describe the elasticity of actual economic activity to the rise in interest rates is to say that some of the factors mentioned earlier have led to a rise in R*."

Fed Governor Bowman: Neutral interest rate may be raised

Odaily report: The Federal Reserve's Beige Book shows that economic activity has "slightly" increased since mid-January, but consumer spending has declined. The report states that "overall consumer spending has declined, with reports of strong demand for necessities, but increased price sensitivity for discretionary items, especially among low-income shoppers." At the same time, prices have "moderately increased," with some regions seeing faster price increases than earlier. (<金十>)

Fed's Powell: The Fed does not need to rush to adjust interest rates, most long-term inflation expectations remain stable and close to the 2% target

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