1、美聯儲的目標進行貨幣政策國會成立的法定貨幣政策目標充分就業、物價穩定 和溫和長期利率在聯邦儲備法 。The Federal Open Market Committee (FOMC) is firmly committed to fulfilling this statutory mandate.聯邦公開市場委員會 (FOMC) 是堅定地致力于履行這一法定 使命。In pursuing these objectives, the FOMC seeks to explain its monetary policy decisions to the public as clearly as poss

2、ible.追求這些目標 ,聯邦公開市場委員會試圖解釋它的貨幣政策 決定向公眾盡可能清楚地。Clarity in policy communications facilitates well-informed decisionmaking by households and businesses, reduces economic and financial uncertainty, increases the effectiveness of monetary policy, and enhances transparency and accountability, which are ess

3、ential in ademocratic society.清晰的政策交流促進消息靈通的家庭和企業的決策,降低了經濟和金融的不確定性 ,增加了貨幣政策的效力 ,并且增強透 明度和問責 ,而在民主社會是必要的。Following its meeting in January 2012, the FOMC issued a statement regarding its longer-run goals and monetary policy strategy.2012 年 1 月的會議之后 ,聯邦公開市場委員會發表了一份聲 明,關于它的長期目標和貨幣政策戰略。The FOMC noted in

4、its statement that the Committee judges that inflation at the rate of 2 percent (as measured by the annual change in the price index for personal consumption expenditures, or PCE) is most consistent over the longer run with the Federal Reserve's statutory mandate.聯邦公開市場委員會在聲明中指出 ,委員會認為 ,通貨膨脹率 為

5、2%（ 按年度變動價格指數的個人消費支出 , 或 PCE） 是最穩定的長期運行與美聯儲的法定使命Communicating this inflation goal clearly helps keep longer-term inflation expectations firmly anchored, thereby fostering price stability and moderate long-term interest rates and enhancing the FOMC's ability to promote maximum employment.傳播這種通脹目標

6、顯然有助于保持長期的通脹預期扎根 ,從 而促進價格穩定和溫和的長期利率和提高聯邦公開市場委 員會促進充分就業的能力。The maximum level of employment is largely determined by nonmonetary factors that affect the structure and dynamics of the job market.最大的就業水平 ,很大程度上取決于非貨幣影響因素 ,結構和 動力學的就業市場。These factors may change over time and may not be directly measurable

7、.這些因素可能會隨著時間改變 ,不得直接測量。As a result, the FOMC does not specify a fixed goal for maximum employment; rather, the FOMC's policy decisions must be informed by its members' assessments of the maximum level of employment, though such assessments are necessarily uncertain and subject to revision.因此

8、 ,聯邦公開市場委員會不指定一個固定目標就業最大化 相反 ,聯邦公開市場委員會的政策決策必須依據其成員的評 估的最大級別的就業 ,不過這樣的評估是一定不確定性和 修。In the FOMC's most recent Summary of Economic Projections, Committee participants' estimates of the longer-run normal rate of unemployment had a central tendency of 5.2 to 6.0 percent, roughly unchanged from A

9、pril 2011 but substantially higher than the corresponding interval several years earlier.在聯邦公開市場委員會的最新經濟預測的總結,委員會參與 者的估計長期正常失業率有一個中央的傾向 ,5.2 至 6.0%, 大 致持平于 2011 年 4 月 ,但大大高于相應的時間間隔幾年前In setting monetary policy, the Committee seeks to mitigate deviations of inflation from its longer-run goal and devi

10、ations of employment from the Committee's assessments of its maximum level.在制定貨幣政策時 ,委員會尋求緩解通貨膨脹的偏差和偏差 的中長期目標的就業委員會的評估它的最高水平。These objectives are generally complementary.這些目標通常是互補的。However, under circumstances in which the Committee judges that the objectives are not complementary, it follows a balanced approach in promoting them, taking into account the magnitude of the deviations and the potentially different time horizons over which employmen