克利夫兰联储主席哈马克：希望在不伤就业的前提下降通胀，利率仍需更具限制性
克利夫兰——克利夫兰联邦储备银行主席贝丝·哈马克（Beth Hammack）10月12日（周一）接受路透社采访时表示，她希望美联储能在不损害就业市场的前提下把通胀压下来，但这可能需要给当前火热的企业投资节奏、以及由市场财富效应支撑的个人消费降温。
哈马克说，当前通胀似乎卡在2.5%至3.0%的区间，推高需求的主要正是上述两个因素。她表示，如果限制性货币政策能把需求压到足够程度，通胀有望在失业率不升破当前4.2%水平的情况下回落。她在谈到与企业界人士的交流时说，她听到的更多是“经济正在蓬勃发展”，而不是人们准备收缩；她表示自己并不想阻止增长，只是想把增长速度拉回到不会带来过大价格压力的水平。
哈马克明确表示，她认为利率需要继续上调以抑制需求，不过对于美联储是否应在10月27日至28日的会议上、在9月已经加息一次之后再次加息，她称自己将以“开放的心态”参会，具体在多长时间内加完仍是开放问题。哈马克今年在联邦公开市场委员会拥有投票权，她曾在7月投下反对票，主张当时就应加息。路透社称，目前投资者普遍预期美联储10月将按兵不动。
哈马克还表示，目前美联储双重使命面临的挑战只来自一侧：通胀偏高，而劳动力市场仍大体处于充分就业附近。她的这番表态，是目前美联储官员中关于需要以限制性政策为需求降温最明确的说法之一。美联储将于10月27日至28日举行下一次议息会议，9月通胀数据将在会议前公布。
来源：据路透社10月12日对克利夫兰联储主席哈马克的专访报道。
Cleveland Fed's Hammack: Rates Need More Restraint to Cool Inflation Without Hurting Jobs
CLEVELAND — Cleveland Federal Reserve President Beth Hammack told Reuters on Monday, October 12, that she hopes the Fed can lower inflation without damaging the job market, but that doing so may entail cooling the blistering pace of corporate investment or the market-driven wealth gains fueling personal consumption.
Hammack said those are the factors driving demand and helping sustain inflation that seems lodged in the 2.5%-to-3.0% range. They could perhaps be cooled enough by restrictive monetary policy for inflation to decline without unemployment rising beyond the current 4.2% jobless rate, she said. Recounting conversations with business leaders, she said she hears more that the economy is booming than that people are looking to pull back, adding that she likes growth and is not trying to stop it, only to pull it back to a pace that does not put too much pricing pressure on the economy. She said curbing activity on the capital-expenditure side might spare consumption a heavier hit, though she did not know precisely which side would be affected.
Hammack said she feels interest rates need to move higher to restrain demand, but added she would go to the Fed's October 27-28 meeting with an "open mind," specifically about whether the Fed should lift rates then after September's hike. She said over what period of time more restriction is added remains an open question to her. Hammack is a voter on rate policy this year and dissented in July in favor of a rate hike. Investors currently expect the Fed to stay on hold in October, according to Reuters.
She also said the Fed is being challenged on only one side of its mandate, with inflation high but the labor market stable around full employment. Reuters described her comments as among the most explicit from a Fed official about the need to cool demand through restrictive monetary policy. The Federal Open Market Committee next meets on October 27-28, with September inflation data due before the meeting.
Source: Reuters interview with Cleveland Fed President Beth Hammack, October 12.
图片来源：克利夫兰联储主席贝丝·哈马克官方肖像，美联储（公有领域，Wikimedia Commons）
