美联储主席鲍威尔表示，风险的平衡转变，可能需要调整政策。在我看来，美联储的政策利率具有适度 的限制性。从声明中删除（若干）长期目标。美联储一致通过新的政策框架，采用灵活的通胀目标制， 并取消了通胀"补偿"策略。从框架中删除有效的更低措辞。形势意味着，就业面临的下行风险上升。劳 动力市场处于一个"不寻常的平衡"状态。劳动力供应已经趋软，（进而）与需求保持一致。就业市场稳 定性允许我们谨慎地推进（货币政策）。关税对价格的影响可能是暂时性的，这是一个合理的基本假 设。预计关税对价格的影响将在未来数月累积。不会允许一次性上涨成为一个持续性的问题。关税对消 费者价格的影响是显而易见的。我们不能认为稳定的通胀预期是理所当然的事。更长时间的通胀预期似 乎得到很好的锚定。 ...

周四（8月21日），美联储隔夜逆回购协议（RRP）使用规模为253.58亿美元，上个交易日报349.99亿美 元。 ...

Core Viewpoint - The usage of the Federal Reserve's overnight reverse repurchase agreement (RRP) reached $57.202 billion on August 13, down from $57.492 billion the previous trading day [1] Group 1 - The current RRP usage indicates a slight decrease in liquidity management by the Federal Reserve [1] - The figures reflect ongoing trends in monetary policy and market conditions [1]

Core Insights - The scale of the Federal Reserve's overnight reverse repurchase agreement (RRP) usage reached $97.426 billion on August 1, compared to $214.445 billion in the previous trading day [1] Group 1 - The RRP usage indicates a significant decrease from the previous day, reflecting changes in liquidity management by financial institutions [1]

Group 1 - The Bank of Japan's quarterly survey indicates that Japanese households expect an average inflation rate of 12.8% one year from now, with a median expectation of 10.0% [1]

Core Viewpoint - The usage of the Federal Reserve's overnight reverse repurchase agreement (RRP) decreased to $237.307 billion on July 2, down from $245.530 billion in the previous trading day [1] Summary by Relevant Categories - **Federal Reserve Operations** - The overnight RRP usage was reported at $237.307 billion on July 2 [1] - The previous trading day's RRP usage was $245.530 billion, indicating a decrease [1]

Core Viewpoint - The usage of the Federal Reserve's overnight reverse repurchase agreement (RRP) increased significantly, indicating heightened liquidity management activities in the financial system [1] Group 1 - On June 27, the RRP usage reached $285.742 billion, up from $252.432 billion in the previous trading day [1]

Core Points - The scale of the Federal Reserve's overnight reverse repurchase agreement (RRP) usage reached $210.879 billion on Wednesday, June 25, compared to $187.367 billion in the previous trading day [1] Summary by Category Federal Reserve Operations - The overnight RRP usage increased significantly from the previous day, indicating heightened liquidity management by the Federal Reserve [1]

Core Viewpoint - The Bank of Japan may face a situation requiring decisive action despite existing uncertainties [1] Summary by Relevant Categories - **Monetary Policy** - The Bank of Japan's committee member, Naoki Tamura, indicates that the central bank might need to take strong measures in response to economic conditions [1] - **Economic Uncertainty** - There are ongoing uncertainties in the economic landscape that could influence the Bank of Japan's decision-making process [1] - **Future Actions** - The potential for decisive action suggests that the Bank of Japan is closely monitoring economic indicators and may adjust its policies accordingly [1]

Core Viewpoint - The Bank of Japan's current policy rate is deemed appropriate due to extremely high uncertainty in the economic outlook [1] Summary by Relevant Categories Monetary Policy - A member of the Bank of Japan indicated that maintaining the current policy rate is suitable given the significant uncertainty surrounding future economic conditions [1]