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Jay Powell’s dovishness is right, but not for the reasons he believes
傑伊•鮑爾的鴿派立場是對的,但並非出於他所相信的理由

Fed is unlikely to get to its 2% inflation target unless it is willing to impose major damage on the economy
美聯準不太可能達到2%的通膨目標,除非它願意對經濟造成重大損害。

To the surprise of many, Federal Reserve chair Jay Powell struck a decidedly dovish tone in his press conference on Wednesday. This came immediately following the issuance of the central bank’s periodic policy statement in which the wording on inflation was hardened by stating that “in recent months, there has been a lack of further progress towards the committee’s 2 per cent inflation objective”.

令衆多人感到驚訝的是,美聯準主席傑伊•鮑爾(Jay Powell)在週三的新聞發佈會上表現出了明顯的鴿派立場。這是在中央銀行發佈定期政策聲明後立即發生的,聲明中對通膨的措辭變得更爲強硬,明確指出「近幾個月來,委員會的2%通膨目標並未取得進一步的進展」。

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