Higher inflation will not be 'persistent'; Fed Chair Powell doubles down on outlook
高通脹不會是“持續的”；美聯儲主席鮑威爾加倍展望
David Lin
Friday April 09, 2021 11:35
At the Debate on the Global Economy hosted by the IMF this week, Fed Chair Jerome Powell once again re-iterated that he sees a temporary spike in prices, but that inflation would not be a long-term, persistent force.
在本周國際貨幣基金組織舉辦的全球經濟辯論中，美聯儲主席鮑威爾再次重申，他認為物價會暫時上漲，但通脹不會是長期的，持久的力量。
"There's a difference between essentially a one-time increase in prices and persistent inflation. When we say inflation that's what we mean. We mean persistent inflation that goes up by 2% or 4% or whatever it is, year after year, and that level of inflation tends to be dictated by underlying inflation dynamics in the economy, as opposed to things like bottlenecks," Powell said.
“基本上一次漲價和持續的通貨膨脹之間是有區別的。當我們說通貨膨脹就是我們的意思。我們的意思是持續的通貨膨脹逐年上升2％或4％或任何水平，這意味著通貨膨脹水平往往由經濟中潛在的通貨膨脹動態決定，而不是像瓶頸之類的東西。”鮑威爾說。
Powell added that bottlenecks in the supply chain will be resolved, therefore, any price increase from a "temporarily tight" supply side would likely not repeat the following year.
鮑威爾補充說，供應鏈中的瓶頸將得到解決，因此，“暫時緊張的”供應方的任何價格上漲都不會在第二年重演。
Higher levels of inflation are not a phenomenon that advanced economies have seen over the past two decades, he added.
他補充說，較高的通貨膨脹率並不是過去二十年來發達經濟體所見的現象。
"We've had 25 years of inflation dynamics, roughly 25 years, where inflation has been low. Many economies around the world, at least for the last decade, have been unable to reach 2% inflation. Some are actually fighting off disinflation, and that has been the dominant set of dynamics about inflation for some decades," he said. "Now, we have a situation where the economy is re-opening, there's a surge in demand, perhaps, there will be bottlenecks, but it seems unlikely that will change the underlying inflation psychology that has taken deep roots over many, many years."
Should the need arises, the Fed will have the tools to guide inflation back towards 2%, Powell said.
“我們已經經歷了25年的通脹動態，大約25年以來一直處於低通脹狀態。至少在過去十年中，世界上許多經濟體都無法達到2％的通貨膨脹率。有些國家實際上在與通貨膨脹作鬥爭，幾十年來，這一直是通貨膨脹的主要動力。” “現在，我們處於一種經濟正在重新開放的情況下，需求激增，也許會有瓶頸，但是似乎不太可能改變改變已經在許多年以來根深蒂固的潛在通貨膨脹心理。 ”
鮑威爾說，如果有需要，美聯儲將擁有將通貨膨脹率引導回2％的工具。
By David Lin
Shiny黃金白銀交易所
引用: Kitco News
高通脹不會是“持續的”；美聯儲主席鮑威爾加倍展望
David Lin
Friday April 09, 2021 11:35
At the Debate on the Global Economy hosted by the IMF this week, Fed Chair Jerome Powell once again re-iterated that he sees a temporary spike in prices, but that inflation would not be a long-term, persistent force.
在本周國際貨幣基金組織舉辦的全球經濟辯論中，美聯儲主席鮑威爾再次重申，他認為物價會暫時上漲，但通脹不會是長期的，持久的力量。
"There's a difference between essentially a one-time increase in prices and persistent inflation. When we say inflation that's what we mean. We mean persistent inflation that goes up by 2% or 4% or whatever it is, year after year, and that level of inflation tends to be dictated by underlying inflation dynamics in the economy, as opposed to things like bottlenecks," Powell said.
“基本上一次漲價和持續的通貨膨脹之間是有區別的。當我們說通貨膨脹就是我們的意思。我們的意思是持續的通貨膨脹逐年上升2％或4％或任何水平，這意味著通貨膨脹水平往往由經濟中潛在的通貨膨脹動態決定，而不是像瓶頸之類的東西。”鮑威爾說。
Powell added that bottlenecks in the supply chain will be resolved, therefore, any price increase from a "temporarily tight" supply side would likely not repeat the following year.
鮑威爾補充說，供應鏈中的瓶頸將得到解決，因此，“暫時緊張的”供應方的任何價格上漲都不會在第二年重演。
Higher levels of inflation are not a phenomenon that advanced economies have seen over the past two decades, he added.
他補充說，較高的通貨膨脹率並不是過去二十年來發達經濟體所見的現象。
"We've had 25 years of inflation dynamics, roughly 25 years, where inflation has been low. Many economies around the world, at least for the last decade, have been unable to reach 2% inflation. Some are actually fighting off disinflation, and that has been the dominant set of dynamics about inflation for some decades," he said. "Now, we have a situation where the economy is re-opening, there's a surge in demand, perhaps, there will be bottlenecks, but it seems unlikely that will change the underlying inflation psychology that has taken deep roots over many, many years."
Should the need arises, the Fed will have the tools to guide inflation back towards 2%, Powell said.
“我們已經經歷了25年的通脹動態，大約25年以來一直處於低通脹狀態。至少在過去十年中，世界上許多經濟體都無法達到2％的通貨膨脹率。有些國家實際上在與通貨膨脹作鬥爭，幾十年來，這一直是通貨膨脹的主要動力。” “現在，我們處於一種經濟正在重新開放的情況下，需求激增，也許會有瓶頸，但是似乎不太可能改變改變已經在許多年以來根深蒂固的潛在通貨膨脹心理。 ”
鮑威爾說，如果有需要，美聯儲將擁有將通貨膨脹率引導回2％的工具。
By David Lin
Shiny黃金白銀交易所
引用: Kitco News
