The US Federal Reserve may feel a little smug this week as its interest rate setting committee meets for the last time before the summer break. Annual inflation in America slowed to just 3 per cent in June, the lowest since March 2021. It has dropped below even the traditionally inflation-challenged Japan, where price growth has hit 3.3 per cent. Perhaps more impressive is that joblessness has barely increased and the odds of a recession are falling, despite the Fed’s aggressive 500 basis points of rate rises over the past 18 months.
美聯儲(Federal Reserve)負責制定利率的委員會本周舉行暑假前最后一次會議時,可能會感到有點沾沾自喜。美國年度通脹率在6月放緩至3%,這是自2021年3月以來的最低水平,甚至低于傳統上通脹偏低的日本,后者的價格漲幅達到3.3%。也許更令人印象深刻的是,盡管美國央行在過去18個月期間激進加息了500個基點,但失業率幾乎沒有上升,經濟衰退的發生幾率正在下降。