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美联储理事鲍曼发文:我为何投下反对票?
Jin Shi Shu Ju·2025-08-01 12:10

Core Viewpoint - The Federal Reserve Governor Bowman advocates for a 25 basis point rate cut to counteract economic slowdown and protect the labor market, as inflation approaches target levels [1][2]. Economic Conditions - The U.S. economy shows resilience in the first half of the year, despite a significant slowdown in potential economic growth, with the labor market remaining close to full employment [3]. - Inflation is progressing towards the 2% target, particularly after excluding tariff-driven price increases, with core Personal Consumption Expenditures (PCE) inflation showing a notable decline [3][4]. Labor Market Insights - There are increasing concerns regarding the labor market, with signs of weakening vitality and a significant drop in the employment-population ratio [3][4]. - Non-farm employment continues to grow moderately, but companies are reducing hiring while retaining existing employees, with job growth concentrated in less economically sensitive sectors like healthcare [3]. Policy Recommendations - The company suggests a gradual approach to adjusting interest rates towards neutral levels to maintain close to full employment and achieve dual objectives of price stability and employment [5]. - Delaying action could worsen labor market conditions and further slow economic growth, making early and gradual adjustments preferable [5]. Decision-Making Consistency - The company emphasizes the importance of maintaining consistency in monetary policy decisions in response to changing economic conditions, while acknowledging differing views among FOMC members [6].