[20200910]IN11499_美联储修订后的货币政策战略声明.pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i The Federal Reserves Revised Monetary Policy Strategy Statement September 10, 2020 After a two-year Review of Monetary Policy Strategy, Tools, and Communications, the Federal Reserve (Fed) announced on August 27, 2020, revisions to its Statement on Longer-Run Goals and Monetary Policy Strategy. This statement, initially published in 2012, explains the Feds monetary policy strategy for achieving its statutory mandate of maximum employment, stable prices, and moderate long-term interest rates. The original statement had two key features. First, it set a long-run inflation goal of 2%, the first time the Fed formally specified a numerical goal. Second, it asserted that a similar numerical goal could not be set for maximum employment because of uncertainty surrounding full employment. The 2020 revision retains both features. Overall, the 2012 statement was concise and did not provide details on how the Fed would react to specific economic situations. The 2020 statement is more detailed, and it marks a shift on how monetary policy will respond to inflation and unemployment in light of recent macroeconomic devel