美联储长期政策框架变化的要点总结

Core Viewpoint - The Federal Reserve has updated its monetary policy framework, emphasizing a more flexible approach to employment and inflation targets, moving away from strict adherence to previous guidelines [1] Group 1: Policy Changes - Policymakers clarified that they will not raise interest rates solely based on low unemployment to curb potential inflation, indicating a shift from previous practices [1] - The language indicating that officials would only respond to "insufficient" full employment has been removed, allowing for a higher employment rate without necessarily posing risks to price stability [1] - The Fed reiterated its 2% inflation target and the importance of stable inflation expectations, while abandoning the "compensatory strategy" that tolerated higher inflation to offset periods below target [1] Group 2: Strategic Framework - The updated framework states that the monetary policy strategy aims to promote full employment and price stability under broad economic conditions, contrasting with previous descriptions of low interest rates as a defining feature of the economic landscape [1] - The update has received unanimous approval from the Federal Open Market Committee (FOMC), with plans for a review of the strategy every five years [1]