新任美联储主席凯文·沃什出席众议院听证会 | 2026.7.
字幕摘录
| 时间 | 英文 | 中文 |
|---|---|---|
| 0:01 | Thank you very much Chairman Hill, Ranking Member Waters, other members of the committee, | 非常感谢希尔主席、沃特斯成员、委员会其他成员 |
| 0:06 | good morning. | 早上好,你好吗? |
| 0:07 | It's a real privilege to join you. | 加入你们真是荣幸 |
| 0:10 | At my very first appearance here before | 在我第一次出现的时候 |
| 0:12 | this panel, I'm particularly honored to represent my superb colleagues from the Federal Reserve | 我很荣幸能代表美联储的优秀同事 |
| 0:18 | System. | 系统 |
| 0:20 | In submitting the monetary policy report, as is our obligation and our duty, | 在提交货币政策报告时,正如我们的义务和责任一样, |
| 0:25 | I think of a long line of central bank chiefs that have appeared in this very room before | 我想到一长串中央银行行长 曾经出现在这个房间里 |
| 0:31 | Congress in keeping with the Federal Reserve Act. | 国会符合联邦储备法 |
| 0:34 | One of the largest figures in Federal | 联邦人口最多的 |
展开字幕全文（114 条）
| 序号 | 英文 | 中文 |
|---|---|---|
| 1 | Thank you very much Chairman Hill, Ranking Member Waters, other members of the committee, | 非常感谢希尔主席、沃特斯成员、委员会其他成员 |
| 2 | good morning. | 早上好,你好吗? |
| 3 | It's a real privilege to join you. | 加入你们真是荣幸 |
| 4 | At my very first appearance here before | 在我第一次出现的时候 |
| 5 | this panel, I'm particularly honored to represent my superb colleagues from the Federal Reserve | 我很荣幸能代表美联储的优秀同事 |
| 6 | System. | 系统 |
| 7 | In submitting the monetary policy report, as is our obligation and our duty, | 在提交货币政策报告时,正如我们的义务和责任一样, |
| 8 | I think of a long line of central bank chiefs that have appeared in this very room before | 我想到一长串中央银行行长 曾经出现在这个房间里 |
| 9 | Congress in keeping with the Federal Reserve Act. | 国会符合联邦储备法 |
| 10 | One of the largest figures in Federal | 联邦人口最多的 |
| 11 | Reserve history is Alan Greenspan, who passed away about a month ago after a century of | 预备队的历史是艾伦·格林斯潘,他大约一个月前去世了 |
| 12 | life. | 活着 |
| 13 | We at the Fed recall the Chairman's strong and steady leadership, his strong hand, | 我们美联储记得主席的有力和稳健的领导,他的有力手, |
| 14 | in a period of rapid economic change, and today we honor his memory. | 在经济迅速变化的时期,今天我们缅怀他。 |
| 15 | As a country, we | 作为一个国家,我们 |
| 16 | 250th year, and when Americans count our blessings, we include an economy predicated on the brilliance | 250年,当美国人数起我们的祝福, 我们包括一个经济 以辉煌 |
| 17 | of our constitutional design and a system of ordered liberty, an economy without equal | 我们的宪法设计和有序的自由制度, 一个没有平等的经济 |
| 18 | in all it's done for human flourishing. | 为了人类的繁荣而做的 |
| 19 | Some forms of Fed communications, which I've spoken | 一些联邦通讯形式,我说过 |
| 20 | about previously, are discretionary, but not this one, and for good reason. | 以前,是自由裁量的,但不是这个,有正当理由的。 |
| 21 | It's a prudent | 这是谨慎的 |
| 22 | and wisely conceived obligation designed to keep the Fed accountable, responsible, | 并明智地设想了义务 旨在让美联储负责,负责, |
| 23 | and faithful to its congressional mandate of full employment and price stability. | 并忠实于其国会关于充分就业和价格稳定的任务。 |
| 24 | These | 这些 |
| 25 | obligations are of a piece with the Fed's rightful independence in the conduct of monetary | 债务与美联储在货币行为上的合法独立性无关 |
| 26 | policy. | 政策。 |
| 27 | Stepping back, I would say today as we sit here, Mr. Chairman, we're at a hinge | 退后,我今天会说,当我们坐在这里,主席先生,我们是一个链条 |
| 28 | point in history. | 历史的点。 |
| 29 | It's up to all of us to meet this moment. | 由一切众生得见此时. |
| 30 | The task for this generation | 这一代人的任务 |
| 31 | of policymakers and of individuals and households in the private sector is to ensure that the | 决策者以及私营部门的个人和家庭应确保 |
| 32 | American economy excels far into the future. | 美国经济在远近的未来是卓越的。 |
| 33 | Now at the Fed, our number one objective is | 在美联储,我们的首要目标是 |
| 34 | getting monetary policy right. | 搞好货币政策 |
| 35 | That's our clear and constant aim, the star we steer | 这是我们的清晰和恒定目标, 我们引导的星 |
| 36 | by. | 由来. |
| 37 | And if we get policy right, and I can assure you we will, the inflation surge of | 如果我们有正确的政策, 我可以向你保证,我们会的, 通货膨胀猛增 |
| 38 | the last five years will be a thing of the past. | 过去五年是过去的事 |
| 39 | Just a month ago, I chaired my very | 一个月前,我主持了我的非常 |
| 40 | first meeting of the FOMC. | FOMC的第一次会议。 |
| 41 | My colleagues and I recognize that high inflation has been an | 我的同事和我承认,高通货膨胀率是 |
| 42 | undue burden on American households and businesses. | 给美国家庭和企业造成过重负担。 |
| 43 | And while monthly price volatilities and variations | 每月的价格波动和变化 |
| 44 | are inevitable, especially in an unsettled world, underlying inflation over longer time | 这是不可避免的,特别是在一个不稳定的世界, 潜在的通货膨胀在更长的时间内 |
| 45 | horizons is determined largely by monetary policy. | 前景主要由货币政策决定。 |
| 46 | As the chairman said at the outset, | 正如主席一开始所说, |
| 47 | inflation is a choice. | 通货膨胀是一个选择。 |
| 48 | The members of our committee have no tolerance for persistently | 我们的委员会成员对顽固的 |
| 49 | elevated inflation, and we share a resolute commitment to ensure price stability. | 通货膨胀上升,我们同样坚决致力于确保价格稳定。 |
| 50 | This | 这个 |
| 51 | was the focus of our June meeting, at which we decided to hold the target range in the | 是我们6月会议的重点,会上我们决定把目标范围定在 |
| 52 | Fed funds rate at three and a half to three and three quarters percent. | 美联储的基金利率是 3 - 5 - 3 - 四分之三。 |
| 53 | Now naturally, | 现在自然 |
| 54 | our work at the Fed demands a proper reading on economic conditions. | 我们在美联储的工作 要求正确解读经济条件 |
| 55 | As you see in our | 如你所见 |
| 56 | report, economic activity grew at a solid pace, showing remarkable resilience in the | 经济活动以稳健的节奏增长,显示出在经济、社会、文化、 |
| 57 | face of recent developments. | 面对最近的事态发展。 |
| 58 | Household consumption, moderate. | 家庭消费,温和。 |
| 59 | Manufacturing output, it moved up | 制造产出,上调 |
| 60 | steadily this past year. | 过去一年来稳步进行。 |
| 61 | The housing sector, however, gives us somewhat different picture | 然而,住房部门给我们带来了一些不同的情况。 |
| 62 | and continues to lag. | 并且继续落后。 |
| 63 | I want to highlight the most striking feature of this economy | 我要强调这个经济最显著的特征 |
| 64 | right now, and it's business investment. | 现在,这是商业投资。 |
| 65 | The rapid pace, which appears to be accelerating, | 快速的速度,似乎正在加速, |
| 66 | reflects in part the construction of data centers and other infrastructure, and immense | 部分反映了数据中心和其他基础设施的建设,以及 |
| 67 | demand for AI-related equipment and software. | 对AI相关设备和软件的需求。 |
| 68 | Investment in equipment overall increased | 设备投资总体增加 |
| 69 | about eight percent for the year in the first quarter. | 第一季度的年薪约为8%。 |
| 70 | Within that category, high tech spending | 在这个类别中,高技术支出 |
| 71 | logged an especially impressive growth rate of nearly 25 percent. | 特别令人印象深刻的增长率接近25%。 |
| 72 | At the Fed, we don't | 在美联储,我们不 |
| 73 | yet know fully the extent to which the economy will benefit from AI, yet it seems inevitable | 然而,它似乎必然会从大赦国际中获益。 |
| 74 | that what we're now calling AI investment will soon just be called investment. | 我们现在所说的人工智能投资 很快就会被称作投资 |
| 75 | Even | 连 |
| 76 | so, new opportunities for the economy introduce new challenges for central bankers. | 因此,经济的新机会给中央银行家带来了新的挑战。 |
| 77 | We at | 我们到了 |
| 78 | the Fed are monitoring the implications for employment and for inflation. | 美联储正在监测对就业和通货膨胀的影响。 |
| 79 | That brings | 这带来 |
| 80 | me briefly, I'll end here so I don't go afoul of the time commitment to the supply | 简而言之,我到此结束,这样我就不会违背对供应的承诺 |
| 81 | side of the economy, which deserves equal measure of discussion. | 经济方面,值得同等程度的讨论。 |
| 82 | Productivity growth | 生产力增长 |
| 83 | has been strong, predating gains from AI adoption. | 从人工智能的采用中得益。 |
| 84 | America's labor force appears stable. | 美国劳动力似乎稳定. |
| 85 | Job | 任务 |
| 86 | creation has in fact kept pace with the workforce. | 事实上,创造与劳动力保持同步。 |
| 87 | The unemployment rate is low and changed little | 失业率低,变化不大 |
| 88 | over the last year, and we've seen relatively few layoffs. | 在过去的一年里,我们看到的裁员相对较少. |
| 89 | In closing, I will say this. | 最后,我要说这一点。 |
| 90 | I came to my new position as a believer in the very best of the Fed's traditions. | 我来到我的新位置 作为一个信仰 最好的美联储的传统。 |
| 91 | I'm | и琌 |
| 92 | encouraging my colleagues in considering how best to advance the conduct of monetary policy. | 鼓励我的同事们考虑如何最好地推动货币政策的实施。 |
| 93 | We have a duty to point this institution forward, to take a fresh look at current practices, | 我们有义务使本机构向前看,重新审视目前的做法, |
| 94 | to make sure we're serving the objectives you gave us, and we're going about it systematically. | 以确保我们服务于 你给我们的目标, 我们正在系统地进行。 |
| 95 | I've appointed task forces that you've already referenced in five key areas to improve the | 我指定了五个关键领域的工作队 来改进我们的工作 |
| 96 | conduct of monetary policy. | 执行货币政策。 |
| 97 | One, Fed communications. | 一,联邦通讯. |
| 98 | Two, our balance sheet policy. | 二,我们的资产负债表政策. |
| 99 | Three, our | 三,我们 |
| 100 | use of existing data sources. | 使用现有数据源。 |
| 101 | Fourth, productivity and jobs in an era of remarkable transformation. | 第四,在显著变革的时代,生产力和就业。 |
| 102 | And five, and not least important, the Fed's inflation frameworks. | 美联储的通货膨胀框架有五个,而且同样重要。 |
| 103 | The purpose of this | 其目的 |
| 104 | initiative is to equip the Fed to make better decisions in monetary policy and put these | 倡议是使美联储有能力在货币政策方面作出更好的决定,并将这些决定付诸实施。 |
| 105 | years of high inflation behind us. | 我们身后多年的高通胀率。 |
| 106 | We're starting a new chapter, Mr. Chairman, at the Federal | 主席先生,我们在联邦开始一个新的篇章 |
| 107 | Reserve. | 储备金。 |
| 108 | In this consequential time for our nation, I can report to you that we at the | 此时此刻,我可以向你们报告我们 |
| 109 | Fed intend to be fit for purpose and focused on the future. | 美联储打算适合目的,专注于未来. |
| 110 | We are the Federal Reserve, | 我们是联邦储备 |
| 111 | Mr. Chairman, and we're determined as ever to fulfill the mission that Congress has given | 主席先生,我们决心一如既往地完成国会赋予的任务 |
| 112 | us. | 我们 |
| 113 | Thank you, Mr. Chairman. | 谢谢你,主席先生。 |
| 114 | I welcome your questions. | 我欢迎你的问题。 |
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