Schmid Wants More Contraction of Fed's Balance SheetBy Michael S. Derby
作者：邁克爾·S·德比
New York, Jan 9 (Reuters) - Kansas City Federal Reserve President Jeff Schmid Signaled on Thursday a Reluctance to Cut Interest Rates Again as the U.S. Central Bank Comes Into the New Year Facing a Resilient Economy and Inflation That Remains Above Its 2% Target.
紐約，1月9日（路透社） - 堪薩斯城聯邦儲備銀行行長傑夫·施密德週四表示，由於美國中央銀行迎來了面對強勁經濟的2023年以及通脹仍高於其2%的目標，他對再次減息表示不情願。
"We Are Currently Pretty Close to Meeting Our Dual Mandate of Price Stability and Full Employment" and, "With Inflation Close to Target and Growth Showing Continued Momentum, I Believe We Are Near the Point Where the Economy Needs Neither Restriction nor Support and That Policy Should Be Neutral," Schmid Said in the Text of a Speech to Be Delivered Before the Economic Club of Kansas City.
"我們目前離滿足價格穩定和充分就業的雙重任務非常接近"，並且"隨着通脹接近目標和經濟增長持續向好，我相信我們正接近一個經濟既不需要限制也不需要支持的點，政策應該是中立的，"施密德在堪薩斯城經濟協會大會上即將發表的演講稿中說道。
In the Current Environment, "Interest Rates Might Be Very Close to Their Longer-Run Level Now," Schmid Said. "I Am in Favor of Adjusting Policy Gradually Going Forward and Only in Response to a Sustained Change in the Tone of the Data," He Said, Adding That "the Strength of the Economy Allows US to Be Patient."
在當前環境下，施密德表示：「利率可能非常接近其長期水平。」他說：「我支持逐步調整政策，並且僅在數據趨勢發生持續變化時做出反應。」他補充道：「經濟的強勁使我們能夠保持耐心。」
The Fed Last Month Cut Its Benchmark Overnight Interest Rate by a Quarter of a Percentage Point to the 4.25%-4.50% Range and Signaled Expectations of Fewer Rate Cuts in 2025 Than Had Been Projected Three Months Earlier. Fed Officials Also Penciled in Expectations of Higher Inflation, and in Public Comments and the Release of Minutes From the Dec. 17-18 Meeting They Have Flagged Considerable Uncertainty Around the Outlook.
本 聯儲局上個月 將基準隔夜利率下調了四分之一個百分點至4.25%-4.50% 區間，並表示預計2025年的減息將少於三個月前的預測。聯儲局官員還預期通貨膨脹將上升，並在公開評論和發佈中 會議記錄 在12月17日至18日的會議上，他們指出對前景存在相當大的不確定性。
Schmid on Thursday Was Upbeat on Where the Economy Now Stands.
施密德在週四對當前經濟狀況表示樂觀。
"I Am Optimistic About Employment and the Strength of the Economy," He Said, Adding "Though the Job Market Has Loosened, It Remains Healthy." Schmid Also Said Growth Has Been "Solid" Around the 3% Level.
他說：「我對就業和經濟的強勁表現感到樂觀。」並補充道：「儘管就業市場有所放鬆，但仍然保持健康。」施密德還表示，經濟增長一直「穩定」，保持在3%的水平。
The Kansas City Fed Chief Weighed in on the Central Bank Balance Sheet Drawdown Known as Quantitative Tightening, or Qt, Which Has Seen the Fed Reduce Its Holdings From a Peak of About $9 Trillion in 2022 to Just Under $7 Trillion. the Fed Expects to Reduce Its Holdings Further but Is Unsure How Far It Can Take the Process.
堪薩斯城聯儲主席對被稱爲量化緊縮的央行資產負債表縮減發表了看法，該過程使得聯儲將其持有資產從2022年約9萬億美元的高峰減少到略低於7萬億美元。聯儲預計將進一步減少其資產，但不確定這一過程能推進多遠。
"I Would Like to See Even Further Declines This Year," Schmid Said of the Balance Sheet, Adding That He Would Also Like to See the Fed Move Toward an All-Treasuries Profile.
施密德表示，他希望今年資產負債表能夠進一步下降，並補充說他也希望聯儲朝向完全國債的結構邁進。
"We Should Minimize Our Impact on Relative Asset Prices," He Said, Noting "This Means Moving Out of Mortgage-Backed Securities."
他說：「我們應該儘量減少對相對資產價格的影響。」他指出：「這意味着需要退出抵押貸款支持證券。」
(Reporting by Michael S. Derby; Editing by Paul Simao)
（報道：邁克爾·S·德比；編輯：保羅·西馬奧）
((Michael.derby@Thomsonreuters.com;))
（（邁克爾.德比@湯姆森路透.com；））
