FED第16次连续加息
在市场人士的期待之中，FOMC在
联邦公开市场委员会今天决定将联邦基金利率提高25基点，上升到它的目标位5.0%。
迄今为止，今年经济增长表现一直非常强劲，委员会认为增长可能放缓至一个更加可持续的步伐，这部分地反映出住房市场正在逐渐冷却，而且，加息和能源价格的上升都具有滞后效应。
然而，能源价格和其他商品价格的上升，对核心通货膨胀只有轻微的影响，不断提高的劳动生产率有助于抑制单位劳动成本的上升，通货膨胀预期依然受到遏制。还有，资源利用率的提高，加上能源和其他商品价格的提高，将对通货膨胀构成潜在的压力。
委员会判断，可能有必要采取进一步的政策紧缩措施对付通货膨胀风险，但是，同时又强调，这种紧缩的程度和时机将取决于未来信息所揭示的经济发展情况而定，在任何情况下，委员会将因应经济前景的变化而采取进一步措施来达成货币政策目标。
为FOMC货币政策行动投票的理事：本·S·伯南克主席；T·F·盖特勒副主席；苏珊·S·比斯；杰克·桂恩；唐纳德·L·库恩；南代尔·S·克罗斯内尔；杰·M·莱克；马克·W·奥尔逊；桑德拉·皮亚拉托；凯文·M·沃西；以及简尼特·L·耶伦。
同时，与加息相关联的行动，委员会一致同意将贴现率提高25个基点，增加到6%。联邦公开市场委员会采取这次行动，是采纳了下列各个联邦储备银行的董事局提交的请求，即波士顿，纽约，费拉德尔菲亚，克利夫兰，里士满，亚特兰大，芝加哥，圣.路易斯，明尼阿波利斯，达拉斯和旧金山。（注意：这次堪萨斯城没有提交这样的请求，上次也是堪萨斯城没有提交这样的请求）
从这次加息措辞来看，联邦基金利率的“中性利率”也许已经自动调升为5.5%甚至更高。因为，能源和其他商品的价格已经纳入他们的考虑范围，最近，国际市场铜、有色金属价格爆涨，期货市场原油再度猛升，目前虽有小幅度的回调，但是，上升势头依然，FED已经在严重关注其对通货膨胀产生的“滞后效应”和“潜在压力”，在这样的背景之下，美联储会作出综合平衡，不过，能源和其他商品价格的提高对通货膨胀的刺激作用肯定大，因此，FED很难在短期内停止加息。
这次是伯南克在上任之后的第2次拍板加息行动。毕竟伯南克将会如何动作，还有待我们做进一步的观察。
Release Date: May 10, 2006
For immediate release
The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 5 percent.
Economic growth has been quite strong so far this year. The Committee sees growth as likely to moderate to a more sustainable pace, partly reflecting a gradual cooling of the housing market and the lagged effects of increases in interest rates and energy prices.
As yet, the run-up in the prices of energy and other commodities appears to have had only a modest effect on core inflation, ongoing productivity gains have helped to hold the growth of unit labor costs in check, and inflation expectations remain contained. Still, possible increases in resource utilization, in combination with the elevated prices of energy and other commodities, have the potential to add to inflation pressures.
The Committee judges that some further policy firming may yet be needed to address inflation risks but emphasizes that the extent and timing of any such firming will depend importantly on the evolution of the economic outlook as implied by incoming information. In any event, the Committee will respond to changes in economic prospects as needed to support the attainment of its objectives.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Susan S. Bies; Jack Guynn; Donald L. Kohn; Randall S. Kroszner; Jeffrey M. Lacker; Mark W. Olson; Sandra Pianalto; Kevin M. Warsh; and Janet L. Yellen.
In a related action, the Board of Governors unanimously approved a 25-basis-point increase in the discount rate to 6 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York,