好意思联储主席鲍威尔周三重申，将来可能会有更多的加息，直到在缩短通胀方面赢得更多发达。

当地时辰周三，他在向众议院金融服务委员会提交的证词中，再次强调6月暂缓加息仅仅临时的举措，并不代表好意思联储仍是完成加息。

他示意：

"果然总计FOMC参与者齐揣摸，应该在年底前进一步晋升利率。"

鲍威尔合计，通货延迟天然仍是降温，但"仍然远远高于"好意思联储2%的场合，线路好意思联储仍有很多处事要作念。

他示意：

"自昨年年中以来，通货延迟仍是有所纵脱，尽管如斯，通胀压力仍然很高，让通胀率回落到2%的经由还有很长的路要走。"

好意思联储官员频繁更温雅不包含食物和能源价钱的中枢通胀方针。4月份，好意思国中枢CPI小幅下跌0.1%至4.7%，但5月数据又回升至5.3%，标明通胀粘性较高。

鲍威尔还示意，好意思国劳能源市集依然火热，通达的处事岗亭数目仍然远远跨越了可用的劳能源储备。

此外，鲍威尔强调称，利率决议将凭据经济数据逐次作念出，并不存在预设的道路。

新好意思联储通信社”Nick Timiraos示意，好意思联储主席鲍威尔向国会准备的证词与上周新闻发布会上的开场白比较，果然莫得新的措辞。

鲍威尔证词公布后，市集果然莫得响应，好意思股期货跌幅短线小幅扩大，纳斯达克100指数期货跌0.4%。

现货黄金微跌，目下在1930好意思元隔邻颤动。

以下为鲍威尔向好意思国众议院提交的证词全文：

【中语版】

好意思联储主席鲍威尔向好意思国众议院金融服务委员会提交的半年度货币战略论述

主席麦克亨利、议员沃特斯女士以及委员会其他成员，感谢您们赐与我契机先容好意思联储的半年度货币战略论述。

咱们好意思联储耐久专注于竣事咱们的双重责任，即促进好意思国人人的最大劳动和肃肃物价。我和我的共事们意会高通胀所带来的辛勤，并坚强悉力于将通胀率降至2%的场合水平。物价肃肃是好意思联储的牵扯，莫得物价肃肃，经济就无法为任何东谈主提供匡助。突出是在莫得物价肃肃的情况下，咱们无法竣事捏久的成心于总计东谈主的强劲劳能源市集景况。

在征询货币战略之前，我将考究现时的经济场面。

现时的经济场面和瞻望

昨年好意思国经济增长显赫放缓，最近的方针标明经济作为仍在以顺心的速率扩张。尽管本年浮滥开销增长有所加速，但住房市集作为仍疲软，主要原因是典质利率上升。较高的利率和较慢的产出增长似乎也对企业固定投钞票生了压力。

劳能源市集仍然相配焦虑。本年前五个月，每月的劳动加多平均达到了强劲的31.4万个劳动岗亭。悠闲率在5月上升，但仍然保捏在3.7%的低水平。劳能源市集的供需有一些迹象标明正在趋于更好的均衡。劳动参与率近几个月有所上升，尤其是25至54岁的东谈主群。方法工资增长有些放缓，本年迄今为止职位空白也有所下跌。天然劳动-工东谈主之间的缺口仍是减轻，但劳动需求仍然大大跨越了可用工东谈主的供应。

通胀率仍远高于咱们2%的耐久场合。轨则4月份的12个月内，个东谈主浮滥开销价钱总指数（PCE）高潮了4.4%；在放弃食物和能源等波动较大的类别后，中枢PCE价钱高潮了4.7%。5月份，浮滥者价钱指数（CPI）的12个月变化率为4.0%，中枢CPI变化率为5.3%。通胀压力从昨年年中以来有所缓解。尽管如斯，新2管理开户通胀压力仍然很高，将通胀率降至2%的经由还有很长的路要走。尽管通胀率较高，但耐久通胀预期似乎保捏雅致，这体目下家庭、企业和预测者的鄙俚拜访以及金融市集的方针中。

货币战略

由于通胀率仍远高于咱们2%的耐久场合，况且劳能源市集景况仍然焦虑，好意思联储公开市集委员会（FOMC）大幅收紧了货币战略态度。自昨岁首以来，咱们已将战略利率上调了5个百分点，并连接以快节拍减少咱们的证券捏仓。咱们仍是看到咱们的紧缩战略对经济中最受利率明锐的部门的需求产生了影响。有关词，对于货币紧缩的一谈影响，尤其是对通胀的影响，需要时辰智商竣事。

经济靠近着家庭和企业信贷条件收紧的阻力，这可能对经济作为、劳动和通胀产生影响。这些影响的进度仍省略情。

探究到咱们在紧缩货币战略方面赢得的发达、货币战略对经济的影响滞后的省略情趣以及信贷紧缩可能带来的阻力，上周FOMC决定将联邦基金利率场合区间保管在5%至5¼%之间，并连接大幅减少咱们的证券捏仓。果然总计FOMC参与者揣摸，到年底时适合的加息幅度将进一步加多。但在上周的会议上，探究到咱们的步履幅度和速率，咱们合计肃肃利率场合区间是贤慧的，以便让委员会评估很是信息尽头对货币战略的影响。在详情可能妥当耐久将通胀率转头2%的很是货币战略盘曲进度时，咱们将探究货币战略的积蓄紧缩、货币战略对经济作为和通胀的影响滞后以及经济和金融发展。咱们将连接凭据一谈新数据尽头对经济作为和通胀长进以及风险均衡的影响，逐次进行有缱绻。

咱们悉力于将通胀率降至2%的场合水平，并保捏耐久通胀预期保捏雅致。缩短通胀可能需要一个低于趋势增长水平的时代和劳能源市集景况的柔化。还原价钱肃肃对于竣事最大劳动和耐久肃肃的物价至关垂危。

在末端之前，让我简要谈一下银行业的景况。好意思国银行体系健康且具有韧性。正如6月货币战略论述中对于金融肃肃的试验所述，好意思联储与财政部和联邦进款保障公司在3月聘请了草率步履，以保护好意思国经济并增强公众对咱们银行体系的信心。最近的银行倒闭，包括硅谷银行的倒闭以及由此产生的银行压力，突显了确保咱们领有适合的章程和监管作念法以应答这些边界的银行的垂危性。咱们悉力于经管这些脆弱性，以成立一个更庞大和更有弹性的银行体系。

咱们显然咱们的步履影响着寰宇各地的社区、家庭和企业。咱们所作念的一切齐是为了实施咱们的环球责任。好意思联储将逸以待劳竣事咱们的最大劳动和物价肃肃场合。

谢谢。我很乐意回话您的问题。

【英文版】

不稳定的全球金融市场给世界经济发展带来巨大风险，成为阻碍经济复苏的绊脚石。2008年国际金融危机暴露出一些国家金融监管体系不足，并导致全球范围金融大幅动荡和经济长期衰退。当前，经济全球化遭遇逆流，金融风险事件频发，全球金融不稳定性增加：英国养老金风波蔓延引发金边债、英镑市场动荡；欧美银行业危机持续发酵，深层矛盾不断浮现；美债违约疑云频现，不断透支美国信用并进一步增添金融市场不确定性。

习近平总书记指出：“民法典在中国特色社会主义法律体系中具有重要地位，是一部固根本、稳预期、利长远的基础性法律”“是一部具有鲜明中国特色、实践特色、时代特色的民法典”。民法典的正式施行，标志着我国民事法律制度第一次以法典化的形式呈现为有机统一的整体，对推进社会主义法治建设具有里程碑意义。我们要不断深化对民法典中国特色、实践特色、时代特色的研究阐释，为有效实施民法典、发展我国民事法律制度提供更加深厚的理论支撑。

Chairman McHenry, Ranking Member Waters, and other members of the Committee, I appreciate the opportunity to present the Federal Reserve's semiannual Monetary Policy Report.

We at the Fed remain squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. My colleagues and I understand the hardship that high inflation is causing, and we remain strongly committed to bringing inflation back down to our 2 percent goal. Price stability is the responsibility of the Federal Reserve, and without it, the economy does not work for anyone. In particular, without price stability, we will not achieve a sustained period of strong labor market conditions that benefit all.

I will review the current economic situation before turning to monetary policy.

Current Economic Situation and Outlook

The U.S. economy slowed significantly last year, and recent indicators suggest that economic activity has continued to expand at a modest pace. Although growth in consumer spending has picked up this year, activity in the housing sector remains weak, largely reflecting higher mortgage rates. Higher interest rates and slower output growth also appear to be weighing on business fixed investment.

The labor market remains very tight. Over the first five months of the year, job gains averaged a robust 314,000 jobs per month. The unemployment rate moved up but remained low in May, at 3.7 percent. There are some signs that supply and demand in the labor market are coming into better balance. The labor force participation rate has moved up in recent months, particularly for individuals aged 25 to 54. Nominal wage growth has shown some signs of easing, and job vacancies have declined so far this year. While the jobs-to-workers gap has narrowed, labor demand still substantially exceeds the supply of available workers.1

Inflation remains well above our longer-run goal of 2 percent. Over the 12 months ending in April, total personal consumption expenditures (PCE) prices rose 4.4 percent; excluding the volatile food and energy categories, core PCE prices rose 4.7 percent. In May, the 12-month change in the consumer price index (CPI) came in at 4.0 percent, and the change in the core CPI was 5.3 percent. Inflation has moderated somewhat since the middle of last year. Nonetheless, inflation pressures continue to run high, and the process of getting inflation back down to 2 percent has a long way to go. Despite elevated inflation, longer-term inflation expectations appear to remain well anchored, as reflected in a broad range of surveys of households, businesses, and forecasters, as well as measures from financial markets.

Monetary Policy

With inflation remaining well above our longer-run goal of 2 percent and with labor market conditions remaining tight, the Federal Open Market Committee (FOMC) has significantly tightened the stance of monetary policy. We have raised our policy interest rate by 5 percentage points since early last year and have continued to reduce our securities holdings at a brisk pace.2 We have been seeing the effects of our policy tightening on demand in the most interest rate–sensitive sectors of the economy. It will take time, however, for the full effects of monetary restraint to be realized, especially on inflation.

The economy is facing headwinds from tighter credit conditions for households and businesses, which are likely to weigh on economic activity, hiring, and inflation.3 The extent of these effects remains uncertain.

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In light of how far we have come in tightening policy, the uncertain lags with which monetary policy affects the economy, and potential headwinds from credit tightening, the FOMC decided last week to maintain the target range for the federal funds rate at 5 to 5-1/4 percent and to continue the process of significantly reducing our securities holdings. Nearly all FOMC participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year. But at last week's meeting, considering how far and how fast we have moved, we judged it prudent to hold the target range steady to allow the Committee to assess additional information and its implications for monetary policy. In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, we will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. We will continue to make our decisions meeting by meeting, based on the totality of incoming data and their implications for the outlook for economic activity and inflation, as well as the balance of risks.

We remain committed to bringing inflation back down to our 2 percent goal and to keeping longer-term inflation expectations well anchored. Reducing inflation is likely to require a period of below-trend growth and some softening of labor market conditions. Restoring price stability is essential to set the stage for achieving maximum employment and stable prices over the longer run.

Before concluding, let me briefly address the condition of the banking sector. The U.S. banking system is sound and resilient. As detailed in the box on financial stability in the June Monetary Policy Report, the Federal Reserve, together with the Treasury Department and the Federal Deposit Insurance Corporation, took decisive action in March to protect the U.S. economy and to strengthen public confidence in our banking system. The recent bank failures, including the failure of Silicon Valley Bank, and the resulting banking stress have highlighted the importance of ensuring we have the appropriate rules and supervisory practices for banks of this size. We are committed to addressing these vulnerabilities to make for a stronger and more resilient banking system.

We understand that our actions affect communities, families, and businesses across the country. Everything we do is in service to our public mission. We at the Fed will do everything we can to achieve our maximum-employment and price-stability goals.

Thank you. I am happy to take your questions.北京赛车捕鱼