다음은 10월 연방공개시장위원회(FOMC) 성명서가 지난 9월 성명서에 비해 바뀌 부분을 성명서 원문에 표시한 것입니다. 새로운 문구는 굵은 글씨로 강조하고 변화된 내용에 대한 코멘트는 괄호 안에 넣어 비교를 유도했습니다. 특별한 표시가 없은 부분은 9월과 같은 부분이니 참고하시기 바랍니다.
◆ 10월 FOMC 정책성명서 변화
Federal Open Market Committee statement
October 31, 2007
The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/2 percent. (예상대로 금리 25bp 인하)
Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance. However, the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction.(3Q 성장률이 예상보다 강력했고 금융시장 긴장이 다소 완화됐음을 명시. 당장은 부분적으로 주택부문 조정 심화를 반영해 성장속도가 둔화될 것으로 예상)
Today’s action, combined with the policy action taken in September, should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time.(금리인하 배경의 예외성을 설명하는 것으로 9월에 처음 삽입. 동일)
Readings on core inflation have improved modestly this year, but recent increases in energy and commodity prices, among other factors, may put renewed upward pressure on inflation. In this context, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully. (최근 에너지 및 상품가격 상승세가 인플레이션 압력을 다시 강화할 수 있다는 점 새롭게 명시. 그 외는 동일)
The Committee judges that, after this action, the upside risks to inflation roughly balance the downside risks to growth.(이번 금리인하로 인플레 상방 위험이 경기 하방 위험과 거의 균형을 이루게 되었다고 강조. 9월에는 경기 불확실성만 언급)
The Committee will continue to assess the effects of financial and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth. (9월과 동일)
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Donald L. Kohn; Randall S. Kroszner;
Frederic S. Mishkin; William Poole; Eric S. Rosengren; and Kevin M. Warsh. Voting against was Thomas M. Hoenig, who preferred no change in the federal funds rate at this meeting.(만장일치 아닌 다수결 결정, 호닉 총재 금리동결 주장. 멤버 외에 참가자들의 반대 의견 개진 더 있었을 것으로 예상)
In a related action, the Board of Governors unanimously approved a 25-basis-point decrease in the discount rate to 5 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Richmond, Atlanta, Chicago, St. Louis, and San Francisco.(6개 연방은행들이 재할인율 인하 요청. 9월에 요청했던 7개 은행 중 보스턴, 클리브랜드, 미네아폴리스, 캔자스시티가 빠지고 대신 리치몬드, 애틀랜타, 시카고가 새롭게 보임. 뉴욕, 세인트루이스, 샌프란시스코는 계속 인하 요청)
◆ 10월 FOMC 정책성명서 변화
Federal Open Market Committee statement
October 31, 2007
The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/2 percent. (예상대로 금리 25bp 인하)
Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance. However, the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction.(3Q 성장률이 예상보다 강력했고 금융시장 긴장이 다소 완화됐음을 명시. 당장은 부분적으로 주택부문 조정 심화를 반영해 성장속도가 둔화될 것으로 예상)
Today’s action, combined with the policy action taken in September, should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time.(금리인하 배경의 예외성을 설명하는 것으로 9월에 처음 삽입. 동일)
Readings on core inflation have improved modestly this year, but recent increases in energy and commodity prices, among other factors, may put renewed upward pressure on inflation. In this context, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully. (최근 에너지 및 상품가격 상승세가 인플레이션 압력을 다시 강화할 수 있다는 점 새롭게 명시. 그 외는 동일)
The Committee judges that, after this action, the upside risks to inflation roughly balance the downside risks to growth.(이번 금리인하로 인플레 상방 위험이 경기 하방 위험과 거의 균형을 이루게 되었다고 강조. 9월에는 경기 불확실성만 언급)
The Committee will continue to assess the effects of financial and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth. (9월과 동일)
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Donald L. Kohn; Randall S. Kroszner;
Frederic S. Mishkin; William Poole; Eric S. Rosengren; and Kevin M. Warsh. Voting against was Thomas M. Hoenig, who preferred no change in the federal funds rate at this meeting.(만장일치 아닌 다수결 결정, 호닉 총재 금리동결 주장. 멤버 외에 참가자들의 반대 의견 개진 더 있었을 것으로 예상)
In a related action, the Board of Governors unanimously approved a 25-basis-point decrease in the discount rate to 5 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Richmond, Atlanta, Chicago, St. Louis, and San Francisco.(6개 연방은행들이 재할인율 인하 요청. 9월에 요청했던 7개 은행 중 보스턴, 클리브랜드, 미네아폴리스, 캔자스시티가 빠지고 대신 리치몬드, 애틀랜타, 시카고가 새롭게 보임. 뉴욕, 세인트루이스, 샌프란시스코는 계속 인하 요청)
