来源：继民财经汇
美联储最新减息公告全文，特朗普立即表态……
美联储终于开始降息了，今天下午
美联储主席鲍威尔说，周三批准的央行降息是调整经济状况的一部分，尽管不能保证未来降息。
鲍威尔在投票后的一次新闻发布会上说，降息是一种对抗“下行风险”的方式，以支持经济并提振通胀。
他说：“我们基本上认为这是对政策的中期调整，”他补充说，美联储官员“认为这将服务于他提到的所有这些目标”。
看看美联储的历史，鲍威尔警告说不要假设本周的降息是过去发生的周期的开始。
他说：“这是指联邦公开市场委员会（FOMC）在周期中间降息的其他时间，我将其与漫长的降息周期的开始进行对比。”“这不是我们现在看到的，这不是我们现在的观点。”
市场认为，鲍威尔的言论没有预期的那么温和，促使华尔街大幅抛售，道琼斯工业指数短暂下跌约470点。
美联储投票决定将基准贷款利率下调25个基点，至2%至2.25%。这是自2008年12月以来首次下调基准基金利率。
鲍威尔说，政策放松是今年早些时候开始的一个演变过程的一部分，当时美联储从打算今年两次加息转变为同意“耐心的立场”。
随着对全球增长、关税和低通胀的担忧加剧，官员们在6月份改变立场，认为加息的可能性更大，以决定在本周为期两天的会议上批准降息。
他说，削减开支“绝对是一个保险方面”。
鲍威尔说：“随着我们采取更为宽松的政策，一年来你所看到的，随着越来越多的支持，经济表现与预期一致。”“不断增加的政策支持使经济保持了正轨，并保持了良好的前景。”
对这次首次降息，特朗普立刻发推表态如下：
华尔街狂跌
周三股市下跌，美联储主席鲍威尔打压了今年晚些时候进一步降息的希望。
道琼斯工业平均指数下跌333.75点，收于26864.27点，跌幅1.2%，此前曾一度下跌478点。标准普尔500指数下跌1.1%，收于2980.38点。纳斯达克综合指数下跌1.2%，收于8175.42点。道琼斯指数创下5月31日以来单日最大跌幅，标普500指数也创下单日最大跌幅。纳斯达克指数创下6月底以来最大单日跌幅。
联邦投资公司（Federated Investors）高级投资组合经理Don Ellenberger表示：“股市似乎对鲍威尔的表现感到失望，可能是因为尽管鲍威尔没有暗示这是一次‘一劳永逸’的降息，但没有公开消息表明9月份的降息是有保证的。”
美联储降息25个基点，符合市场预期。央行将“全球发展”和“温和的通胀”作为宽松货币政策的理由。
美联储最新减息公告全文
（中文翻译仅供参考，英文原文后附）
2019年7月31日
美联储发布联邦公开市场委员会声明
美国东部夏令时下午2：00发布
自6月份联邦公开市场委员会会议以来收到的信息表明，劳动力市场仍然强劲，经济活动以中等速度增长。近几个月来，平均而言，就业增长稳定，失业率仍然很低。尽管家庭支出的增长已经从年初开始回升，但企业固定投资的增长仍然疲软。在12个月的基础上，除食品和能源外，其他项目的总体通胀率和通胀率均低于2%。以市场为基础的通胀补偿措施仍然很低；以调查为基础的长期通胀预期措施几乎没有变化。
根据其法定任务，委员会寻求最大限度地促进就业和价格稳定。鉴于全球发展对经济前景的影响以及缓和的通胀压力，委员会决定将联邦基金利率的目标范围降低至2%至2-1/4%。这一行动支持委员会的观点，即经济活动的持续扩张、劳动力市场的强劲状况以及接近委员会对称2%目标的通货膨胀是最有可能的结果，但关于这一前景的不确定性仍然存在。当委员会考虑联邦基金利率目标范围的未来路径时，它将继续监测输入信息对经济前景的影响，并在劳动力市场强劲和系统性通货膨胀接近2%的情况下，采取适当行动维持扩张。
在确定未来调整联邦基金利率目标范围的时间和规模时，委员会将评估与其最大就业目标和对称2%通胀目标相关的已实现和预期经济条件。该评估将考虑广泛的信息，包括劳动力市场状况的衡量、通胀压力和通胀预期的指标以及金融和国际发展的读数。
委员会将于8月结束减少其在系统公开市场账户中的证券总持有量，这比先前指出的提前两个月。
投票支持货币政策行动的人有：主席杰罗姆H。鲍威尔、副主席约翰C。威廉姆斯、米歇尔W。鲍曼、雷尔·布雷纳德、詹姆斯·布拉德、理查德H。克拉利达、查尔斯L。埃文斯和兰德尔K。夸尔斯。反对这一行动的是埃丝特L。乔治和埃里克S。罗森格伦，他们在这次会议上倾向于将联邦基金利率的目标范围维持在2-1/4%到2-1/2%。
英文原文如下：
July 31， 2019
Federal Reserve issues FOMC statement
For release at 2：00 p.m。 E
Information received since the Federal Open Market Committee met in June indicates that the labor market remains strong and that economic activity has been rising at a moderate rate。 Job gains have been solid， on average， in recent months， and the unemployment rate has remained low。 Although growth of household spending has picked up from earlier in the year， growth of business fixed investment has been soft。 On a 12-month basis， overall inflation and inflation for items other than food and energy are running below 2 percent。 Market-based measures of inflation compensation remain low； survey-based measures of longer-term inflation expectations are little changed。
Consistent with its statutory mandate， the Committee seeks to foster maximum employment and price stability。 In light of the implications of global developments for the economic outlook as well as muted inflation pressures， the Committee decided to lower the target range for the federal funds rate to 2 to 2-1/4 percent。 This action supports the Committee‘s view that sustained expansion of economic activity， strong labor market conditions， and inflation near the Committee’s symmetric 2 percent objective are the most likely outcomes， but uncertainties about this outlook remain。 As the Committee contemplates the future path of the target range for the federal funds rate， it will continue to monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion， with a strong labor market and inflation near its symmetric 2 percent objective。
In determining the timing and size of future adjustments to the target range for the federal funds rate， the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective。 This assessment will take into account a wide range of information， including measures of labor market conditions， indicators of inflation pressures and inflation expectations， and readings on financial and international developments。
The Committee will conclude the reduction of its aggregate securities holdings in the System Open Market Account in August， two months earlier than previously indicated。
Voting for the monetary policy action were Jerome H。 Powell， Chair； John C。 Williams， Vice Chair； Michelle W。 Bowman； Lael Brainard； James Bullard； Richard H。 Clarida； Charles L。 Evans； and Randal K。 Quarles。 Voting against the action were Esther L。 George and Eric S。 Rosengren， who preferred at this meeting to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent。
July 31， 2019
Implementation Note issued July 31， 2019
Decisions Regarding Monetary Policy Implementation
The Federal Reserve has made the following decisions to implement the monetary policy stance announced by the Federal Open Market Committee in itsstatementon July 31， 2019：
The Board of Governors of the Federal Reserve System voted unanimously to lower the interest rate paid on required and excess reserve balances to 2.10 percent， effective August 1， 2019。
As part of its policy decision， the Federal Open Market Committee voted to authorize and direct the Open Market Desk at the Federal Reserve Bank of New York， until instructed otherwise， to execute transactions in the System Open Market Account in accordance with the following domestic policy directive：
“Effective August 1， 2019， the Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 2 to 2-1/4 percent， including overnight reverse repurchase operations （and reverse repurchase operations with maturities of more than one day when necessary to accommodate weekend， holiday， or similar trading conventions） at an offering rate of 2.00 percent， in amounts limited only by the value of Treasury securities held outright in the System Open Market Account that are available for such operations and by a per-counterparty limit of $30 billion per day。
Effective August 1， 2019， the Committee directs the Desk to roll over at auction all principal payments from the Federal Reserve‘s holdings of Treasury securities and to reinvest all principal payments from the Federal Reserve’s holdings of agency debt and agency mortgage-backed securities received during each calendar month。 Principal payments from agency debt and agency mortgage-backed securities up to $20 billion per month will be reinvested in Treasury securities to roughly match the maturity composition of Treasury securities outstanding； principal payments in excess of $20 billion per month will continue to be reinvested in agency mortgage-backed securities。 Small deviations from these amounts for operational reasons are acceptable。
The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve‘s agency mortgage-backed securities transactions。“
In a related action， the Board of Governors of the Federal Reserve System voted unanimously to approve a 1/4 percentage point decrease in the primary credit rate to 2.75 percent， effective August 1， 2019。 In taking this action， the Board approved requests to establish that rate submitted by the Boards of Directors of the Federal Reserve Banks of Philadelphia， Chicago， St。 Louis， Dallas， and San Francisco。
This information will be updated as appropriate to reflect decisions of the Federal Open Market Committee or the Board of Governors regarding details of the Federal Reserve‘s operational tools and approach used to implement monetary policy。
More information regarding open market operations and reinvestments may be found on the Federal Reserve Bank of New York‘swebsite。
