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金融时报双语(双语外刊);美联储官员:越来越多的美国企业拟转嫁关税成本

2018-8-27 18:52| 发布者: admin| 查看: 186| 评论: 0

摘要: US companies ready to pass on more tariff costs to customers美联储官员:越来越多的美国企业拟转嫁关税成本公众号:英语人才会 感谢你的关注!Moves by US companies to shift the cost of President Donald Trum ...

US companies ready to pass on more tariff costs to customers

美联储官员:越来越多的美国企业拟转嫁关税成本

公众号:英语人才会 感谢你的关注!

Moves by US companies to shift the cost of President Donald Trump’s tariffs to their customers risk complicating monetary policy decisions as the Federal Reserve seeks to keep inflation steady, the central bank’s policymakers have warned.

美联储(Federal Reserve)政策制定者警告称,在这家美国央行寻求保持通胀稳定之际,美国企业将唐纳德•特朗普(Donald Trump)总统的关税成本转嫁给消费者的举措,可能会使货币政策决策复杂化。

Raphael Bostic, president of the Atlanta Fed, told the Financial Times that he believed the US was at an “inflection point”, where higher tariffs on products such as steel and aluminium would start to be felt by consumers.

亚特兰大联邦储备银行(Atlanta Fed)行长拉斐尔•博斯蒂克(Raphael Bostic)对英国《金融时报》表示,他认为美国正处于消费者开始感受到钢铝等产品关税上调影响的“拐点”。

“An increasing number of firms are telling us that they are going to start passing the cost increases through and they will be reflected in final goods prices,” he said in an interview on the sidelines of the Kansas City Fed’s annual conference in Jackson Hole. “Businesses have told me that they have been able to absorb a fair amount of the price increases to date but that their ability to do that is diminishing.”

“越来越多的公司告诉我们,它们将开始转嫁成本上涨,这些举措将反映在最终的商品价格上,”他在堪萨斯城联邦储备银行(Kansas City Fed)的杰克逊霍尔(Jackson Hole)年会间隙接受采访时说,“不少企业告诉我,迄今为止,它们还能够吸收相当一部分价格上涨,但它们这样做的空间正在消失。”

Weighing the impact of the tariffs is emerging as a challenge for the Fed. While rising duties and retaliation could become an inflation concern, policymakers say the trade wars could also damp growth by dragging on corporate confidence and prompting firms to put investments on ice.

权衡关税的影响正成为美联储的一项挑战。政策制定者们表示,在提高关税以及由此引发的报复成为通胀隐忧的同时,贸易战还可能拖累企业信心,促使企业搁置投资,从而抑制经济增长。

For the time being, Fed officials see inflation pressures in the US as contained; indeed, the central bank’s bigger problem in recent years has been persistently undershooting the target. Jay Powell, the Fed chairman, sounded sanguine about inflation risks in his speech at Jackson Hole, saying he was not seeing signs of inflation blowing through the Fed’s 2 per cent target.

眼下,美联储官员认为美国的通胀压力受到了抑制;实际上,美国央行近年更大的问题是通胀一直未能达到目标。美联储主席杰伊•鲍威尔(Jay Powell)在杰克逊霍尔的演讲中对通胀风险表示乐观,称他并未看到通胀突破美联储2%目标的迹象。

But Agustín Carstens, general manager of the Bank for International Settlements, warned that the retreat from globalisation could undermine forces that had driven down inflation.

但国际清算银行(BIS)总经理奥古斯丁•卡斯滕斯(Agustín Carstens)警告称,全球化的倒退可能削弱一直以来压低通胀的力量。

“Tariffs could inflate prices, hurting both US consumers and US exports. It could push up prices, possibly requiring monetary policy to react through more rapid increases in interest rates,” he argued at the weekend.

他在周末表示:“关税可能拉高价格,伤害美国消费者和美国的出口。它将推高价格,可能要求货币政策通过更快加息做出回应。”

Robert Kaplan, the Dallas Fed president, said in an interview that he was hoping the impact of the trade tensions on the economy would be manageable, adding that he expected three or four more rate increases as the Fed gradually moves towards neutral policy.

达拉斯联邦储备银行(Dallas Fed)行长罗伯特•卡普兰(Robert Kaplan)在一次采访中表示,他希望贸易紧张对经济的影响将是可控的,并补充称,随着美联储逐渐转向中性政策,他预计还会有三到四次加息。

But he said he was also hearing more companies talk about pushing through higher costs to consumers.

但他表示,他也听到越来越多的公司谈论将上涨的成本转嫁给消费者。

“More and more of them are telling me for the first time in years I am putting through price increases, or I intend to put through price increases. It wouldn’t surprise me if we see it show up in the data here in the near future.”

“越来越多的企业多年来第一次对我表示,它们正在提价,或者打算提价。如果我们在不久的将来在数据中看到这种情况,我不会感到惊讶。”

Loretta Mester, president of the Cleveland Fed, said part of the reason companies felt better able to pass on higher prices to consumers was they were enjoying stronger demand. If the tariffs led to one-off price increases, the Fed would probably continue its gradual path of rate rises, she added.

克利夫兰联邦储备银行(Cleveland Fed)行长洛丽塔•梅斯特(Loretta Mester)表示,企业之所以觉得自己能够将上涨的成本转嫁给消费者,部分原因是需求强劲。她补充说,如果关税导致一次性的价格上涨,美联储很可能将保持在逐步加息的轨道上。

“If we continue to have these rolling tariffs where they keep increasing and adding on and adding on then you could have a longer spurt of inflation, and that would make things a little more complicated,” Ms Mester said.

梅斯特表示:“如果我们继续没完没了地加征这些关税,税率不断提高,打击面不断加大,那么我们可能会经历更长期的通胀上扬,而那会让局面变得更加复杂一些。”

Mr Bostic said there was no need to be aggressive in monetary policy because there were no signs that the economy was over-heating. But he added: “We are at an inflection point almost in terms of having this trade policy really start to affect what consumers see and experience in stores.”

博斯蒂克表示,没有必要在货币政策上采取激进措施,因为没有迹象表明美国经济过热。但他补充称:“我们正处于一个拐点,贸易政策正开始影响消费者在商店里的见闻和体验。”

 


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