2回連続で0.75％という異例の大幅利上げを行ったアメリカのFRB（連邦準備制度理事会）。パウエル議長は今のアメリカ経済をどう分析し、なぜ利上げに踏み切ったのか。そして今後の金融政策をどうするのか…。会見映像のダイジェストです。
Good afternoon.
こんにちは
My colleagues and I are strongly committed to bringing inflation back down. And we're moving expeditiously to do so.
我々はインフレを再び低下させることに
強くコミットし 迅速に動いている
We have both the tools we need and the resolve it would take to restore price stability on behalf of American families and businesses.
物価の安定を回復するために必要な
手段と決意の両方を持ち合わせている
The economy and the country had been through a lot over the past two and a half years and improved resilient.
この2年半で経済も国もいろいろな
ことがあったが 回復力を見せてきた
It is essential that we bring inflation down to our 2% goal.
労働市場が強い状況が
続くのであれば
If we are to have a sustained period of strong labor market conditions the benefit for all
インフレ率を2%まで引き下げることは
必要不可欠である
From the standpoint of our congressional mandate to promote maximum employment and price stability,
最大限の雇用と物価の安定を
促進するという我々の使命に鑑みー
the current picture is plain to see.
現在の状況は一目瞭然で
Labor market is extremely tight, and inflation is much too high.
労働市場は極めて逼迫し
インフレ率は非常に高すぎる
Against this backdrop, today, the FOMC raised its policy interest rate by three quarters of a percentage point
このような背景からFOMCは
政策金利を0.75%引き上げた
and anticipates that ongoing increases in the target range for the federal funds rate will be appropriate.
今後もこの金利の引き上げが
適切であると考える
In addition, we are continuing the process of significantly reducing the size of our balance sheet.
さらにバランスシートの規模を大幅に
縮小するプロセスを続けている
recent indicators of spending and production have softened
growth in consumer spending has slowed significantly,
最近の支出や生産の指標が弱くなっている
個人消費の拡大が大幅に鈍化している
in part reflecting lower real disposable income and tighter financial conditions.
実質可処分所得の減少や
金融引き締めが一因だ
activity in the housing sector has weakened in part reflecting their mortgage rates.
住宅ローン金利の上昇を反映して
住宅セクターの活動は弱くなっている
And after a strong increase in the first quarter business fixed investment also looks to have declined in the second quarter.
また第一四半期に大きく伸びた企業の
固定投資も第二四半期には減少したようだ
Despite these developments, the labor market has remained extremely tight
それにも関わらず
労働市場は極めて逼迫している
with the unemployment rate near a 50 year low,
失業率が50年ぶりの低水準にあり
job vacancies near historical highs and wage growth elevated.
求人倍率が歴史的に高く
賃金が上昇している
Notwithstanding the recent slowdown in overall economic activity, aggregate demand appears to remain strong.
経済活動全般の減速にもかかわらず
総需要は堅調に推移しているようだ
supply constraints have been larger and longer lasting than anticipated. And price pressures are evident across a broad range of goods and services.
供給制約は予想以上に大きく
価格圧力は広範囲に及んでいる
Although prices for some commodities have turned down recently,
最近 一部の商品価格は
下落に転じているもののー
the earlier surge in prices of crude oil and other commodities that resulted from Russia's war on Ukraine
ロシアのウクライナ侵攻による
原油価格などの高騰は
has boosted prices for gasoline and food, creating additional upward pressure on inflation.
ガソリンや食料品の価格を押し上げ
インフレにさらなる上昇圧力をかけている
My colleagues and I are acutely aware that high inflation imposes significant hardship,
高いインフレが大きな苦難を強いている
ことを我々はわかっています
especially on those least able to meet higher costs of essentials like food, housing and transportation.
食料、住居、交通など必需品の価格上昇に
対応できない人は特にそうです
Today's increases the target in the target range is the second 75 basis point increase in as many meetings
今日のターゲットレンジの引き上げは
ここまでの会合の中で2回目の0.75%だ
while another unusually large increase could be appropriate at our next meeting.
もう一度異例の大幅増額が次回の
会合で適切となる可能性もあるが
That is a decision that will depend on the data we get between now and then.
これから先のデータ次第で
決まることだ
We will continue to make our decisions meeting by meeting and communicating and communicating our thinking as clearly as possible.
我々は会合ごとに意思決定し
できる限り明確に伝えるつもりだ
As the stance of monetary policy tightens further,
it likely will become appropriate to slow the pace of increases
金融政策のスタンスが引き締まるにつれ
利上げペースを緩めるのが適切かもしれない
while we assess how our cumulative policy adjustments are affecting the economy and inflation.
累積的な政策調整が経済とインフレに
及ぼす影響を調べているところだ
Our overarching focus is using our tools to bring demand into better balance with supply
我々が最も重視しているのは
需要と供給のバランスをより良くすることだ
in order to bring inflation back down to our 2% goal and to keep longer term inflation expectations well anchored.
インフレ率を2％目標まで下げ
長期的な見通しを十分に安定させたい
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