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2021-12-16

could it be a false uptrend?

Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>

2021-12-16

How much will it affects the US market?

Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>

2021-12-15

$Ford(F)$$Ford(F)$US$19.68 now good time to enter?

2021-12-10

$Apple(AAPL)$at US$175 pre market price, is it too high to buy in now? Any experts around?

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it be a false uptrend?&nbsp;","listText":"could it be a false uptrend?&nbsp;","text":"could it be a false uptrend?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/607782270","repostId":"1111705843","repostType":2,"repost":{"id":"1111705843","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639594904,"share":"https://www.laohu8.com/m/news/1111705843?lang=zh_CN&edition=full","pubTime":"2021-12-16 03:01","market":"us","language":"en","title":"Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111705843","media":"Tiger Newspress","summary":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since ","content":"<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-16 03:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111705843","content_text":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.\nFor one, the Fed said it will accelerate the reduction of its monthly bond purchases.\nThe Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.\nAfter that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.\nProjections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.\nThe Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.\n“Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.\nThe statement also noted that “job gains have been solid in recent months, and the unemployment rate has declined substantially.”\nBoth policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.\nFed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.\nHowever, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”\nFor the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.\nThe policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.\nHowever, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.\nThe asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.\nHowever, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.\nUnder the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.\nFrom there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.\nPowell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607781364,"gmtCreate":1639595062060,"gmtModify":1639595062608,"author":{"id":"4101194134265070","authorId":"4101194134265070","name":"Pepper08","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101194134265070","authorIdStr":"4101194134265070"},"themes":[],"htmlText":"How much will it affects the US market?&nbsp;","listText":"How much will it affects the US market?&nbsp;","text":"How much will it affects the US market?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607781364","repostId":"1111705843","repostType":2,"repost":{"id":"1111705843","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639594904,"share":"https://www.laohu8.com/m/news/1111705843?lang=zh_CN&edition=full","pubTime":"2021-12-16 03:01","market":"us","language":"en","title":"Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111705843","media":"Tiger Newspress","summary":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since ","content":"<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-16 03:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111705843","content_text":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.\nFor one, the Fed said it will accelerate the reduction of its monthly bond purchases.\nThe Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.\nAfter that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.\nProjections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.\nThe Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.\n“Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.\nThe statement also noted that “job gains have been solid in recent months, and the unemployment rate has declined substantially.”\nBoth policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.\nFed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.\nHowever, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”\nFor the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.\nThe policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.\nHowever, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.\nThe asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.\nHowever, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.\nUnder the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.\nFrom there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.\nPowell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607708770,"gmtCreate":1639583343686,"gmtModify":1639583344566,"author":{"id":"4101194134265070","authorId":"4101194134265070","name":"Pepper08","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101194134265070","authorIdStr":"4101194134265070"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/F\">$Ford(F)$</a><a href=\"https://laohu8.com/S/F\">$Ford(F)$</a>US$19.68 now&nbsp;good time to enter?&nbsp;","listText":"<a href=\"https://laohu8.com/S/F\">$Ford(F)$</a><a href=\"https://laohu8.com/S/F\">$Ford(F)$</a>US$19.68 now&nbsp;good time to enter?&nbsp;","text":"$Ford(F)$$Ford(F)$US$19.68 now good time to enter?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607708770","isVote":1,"tweetType":1,"viewCount":3138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605823511,"gmtCreate":1639146530524,"gmtModify":1639356024075,"author":{"id":"4101194134265070","authorId":"4101194134265070","name":"Pepper08","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101194134265070","authorIdStr":"4101194134265070"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>at US$175 pre&nbsp;market price, is it too high to buy in now? Any experts around?&nbsp;","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>at US$175 pre&nbsp;market price, is it too high to buy in now? Any experts around?&nbsp;","text":"$Apple(AAPL)$at US$175 pre market price, is it too high to buy in now? Any experts around?","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1204,"commentSize":331,"repostSize":7,"link":"https://laohu8.com/post/605823511","isVote":1,"tweetType":1,"viewCount":24243,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3570022529586181","authorId":"3570022529586181","name":"Alagu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"3570022529586181","authorIdStr":"3570022529586181"},"content":"hell no. Unless you have plans of DCAing. I will never add to my position during rocket phase","text":"hell no. Unless you have plans of DCAing. I will never add to my position during rocket phase","html":"hell no. Unless you have plans of DCAing. I will never add to my position during rocket phase"},{"author":{"id":"3479274781436276","authorId":"3479274781436276","name":"BecauseOfYou","avatar":"https://static.laohu8.com/picture117","crmLevel":1,"crmLevelSwitch":0,"idStr":"3479274781436276","authorIdStr":"3479274781436276"},"content":"I continue to be bullish on Apple.","text":"I continue to be bullish on Apple.","html":"I continue to be bullish on Apple."}],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":605823511,"gmtCreate":1639146530524,"gmtModify":1639356024075,"author":{"id":"4101194134265070","authorId":"4101194134265070","name":"Pepper08","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101194134265070","authorIdStr":"4101194134265070"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>at US$175 pre&nbsp;market price, is it too high to buy in now? Any experts around?&nbsp;","listText":"<a href=\"https://laohu8.com/S/AAPL\">$Apple(AAPL)$</a>at US$175 pre&nbsp;market price, is it too high to buy in now? Any experts around?&nbsp;","text":"$Apple(AAPL)$at US$175 pre market price, is it too high to buy in now? Any experts around?","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1204,"commentSize":331,"repostSize":7,"link":"https://laohu8.com/post/605823511","isVote":1,"tweetType":1,"viewCount":24243,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3570022529586181","authorId":"3570022529586181","name":"Alagu","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"3570022529586181","authorIdStr":"3570022529586181"},"content":"hell no. Unless you have plans of DCAing. I will never add to my position during rocket phase","text":"hell no. Unless you have plans of DCAing. I will never add to my position during rocket phase","html":"hell no. Unless you have plans of DCAing. I will never add to my position during rocket phase"},{"author":{"id":"3479274781436276","authorId":"3479274781436276","name":"BecauseOfYou","avatar":"https://static.laohu8.com/picture117","crmLevel":1,"crmLevelSwitch":0,"idStr":"3479274781436276","authorIdStr":"3479274781436276"},"content":"I continue to be bullish on Apple.","text":"I continue to be bullish on Apple.","html":"I continue to be bullish on Apple."}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607782270,"gmtCreate":1639596352490,"gmtModify":1639596353042,"author":{"id":"4101194134265070","authorId":"4101194134265070","name":"Pepper08","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101194134265070","authorIdStr":"4101194134265070"},"themes":[],"htmlText":"could it be a false uptrend?&nbsp;","listText":"could it be a false uptrend?&nbsp;","text":"could it be a false uptrend?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/607782270","repostId":"1111705843","repostType":2,"repost":{"id":"1111705843","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639594904,"share":"https://www.laohu8.com/m/news/1111705843?lang=zh_CN&edition=full","pubTime":"2021-12-16 03:01","market":"us","language":"en","title":"Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111705843","media":"Tiger Newspress","summary":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since ","content":"<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-16 03:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111705843","content_text":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.\nFor one, the Fed said it will accelerate the reduction of its monthly bond purchases.\nThe Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.\nAfter that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.\nProjections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.\nThe Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.\n“Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.\nThe statement also noted that “job gains have been solid in recent months, and the unemployment rate has declined substantially.”\nBoth policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.\nFed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.\nHowever, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”\nFor the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.\nThe policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.\nHowever, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.\nThe asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.\nHowever, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.\nUnder the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.\nFrom there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.\nPowell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607781364,"gmtCreate":1639595062060,"gmtModify":1639595062608,"author":{"id":"4101194134265070","authorId":"4101194134265070","name":"Pepper08","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101194134265070","authorIdStr":"4101194134265070"},"themes":[],"htmlText":"How much will it affects the US market?&nbsp;","listText":"How much will it affects the US market?&nbsp;","text":"How much will it affects the US market?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607781364","repostId":"1111705843","repostType":2,"repost":{"id":"1111705843","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639594904,"share":"https://www.laohu8.com/m/news/1111705843?lang=zh_CN&edition=full","pubTime":"2021-12-16 03:01","market":"us","language":"en","title":"Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111705843","media":"Tiger Newspress","summary":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since ","content":"<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-16 03:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111705843","content_text":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.\nFor one, the Fed said it will accelerate the reduction of its monthly bond purchases.\nThe Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.\nAfter that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.\nProjections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.\nThe Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.\n“Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.\nThe statement also noted that “job gains have been solid in recent months, and the unemployment rate has declined substantially.”\nBoth policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.\nFed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.\nHowever, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”\nFor the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.\nThe policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.\nHowever, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.\nThe asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.\nHowever, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.\nUnder the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.\nFrom there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.\nPowell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607708770,"gmtCreate":1639583343686,"gmtModify":1639583344566,"author":{"id":"4101194134265070","authorId":"4101194134265070","name":"Pepper08","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101194134265070","authorIdStr":"4101194134265070"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/F\">$Ford(F)$</a><a href=\"https://laohu8.com/S/F\">$Ford(F)$</a>US$19.68 now&nbsp;good time to enter?&nbsp;","listText":"<a href=\"https://laohu8.com/S/F\">$Ford(F)$</a><a href=\"https://laohu8.com/S/F\">$Ford(F)$</a>US$19.68 now&nbsp;good time to enter?&nbsp;","text":"$Ford(F)$$Ford(F)$US$19.68 now good time to enter?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607708770","isVote":1,"tweetType":1,"viewCount":3138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}