德邦证券宏观点评围1：2023年5月F0MC与2023年3月F0MC对比Recent indicators point to-Economic activity expanded at a modest growthpace in spending andproduction.the first quarter.Job gains have picked upbeen robust in recent months,and are runningat a robust pace;the unemployment rate has remained low.Inflation remains elevated.The U.S.banking system is sound and resilient.Recent develepments are likely to result intighterTighter credit conditions for households and businesses andare likely to weigh on economicactivity,hiring,and inflation.The extent of these effects isremains uncertain.The Committeeremains highly attentive to inflation risks.The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent overthe longer run.In support of these goals,the Committee decided to raise the target range for thefederal funds rate to 4-3/45 to 5-1/4 percent.The Committee will closely monitor incominginformation and assess the implications for monetary policy.The Cemmittee anticipates that semelndetermining the extent to which additional policy firming may be appropriate in erder to attain astance of monetary policy that is sufficiently-restrictive-to return inflation to 2 percent over time.Indetermining the extent of future increases in the target range,the Committee will take into accountthe cumulative tightening of monetary policy,the lags with which monetary policy affects economicactivity and inflation,and economic and financial developments.In addition,the Committee willcontinue reducing its holdings of Treasury securities and agency debt and agency mortgage-backedsecurities,as described in its previously announced plans.The Committee is strongly committed toreturning inflation to its 2 percent objective.In assessing the appropriate stance of monetary policy,the Committee will continue to monitor theimplications of incoming information for the economic outlook.The Committee would be preparedto adjust the stance of monetary policy as appropriate if risks emerge that could impede theattainment of the Committee's goals.The Committee's assessments will take into account a widerange of information,including readings on labor market conditions,inflation pressures and inflationexpectations,and financial and international developments.BI Fed Presser Opening Statement Sentiment Index30-Fed Statement Sentiment Avg■Hawkish205730Chart Powered by Bloomberg BQNT [ECAN)请务必阅读正文之后的信息披露和法律声明