聯準會沃勒暗示，如果通膨繼續當前的通貨緊縮趨勢，聯準會將在 2025 年多次降息

沃勒週四在 CNBC 上發表講話時表示，“我們昨天得到的通膨數據非常好”，他指的是顯示物價壓力有所降溫的最新數據。

Federal Reserve Governor Christopher Waller suggested multiple rate cuts in 2025 if inflation continues to show signs of cooling.

聯準會理事克里斯多福沃勒(Christopher Waller)建議，如果通膨繼續顯示出降溫跡象，2025年將多次降息。

Speaking on CNBC Thursday, Waller highlighted the favorable December inflation data, which he said would support rate cuts in the first half of the year, possibly beginning as early as March.

沃勒週四在 CNBC 上發表講話時強調了有利的 12 月通膨數據，他表示這些數據將支持上半年降息，可能最早從 3 月開始。

“The inflation data we got yesterday was very good,” Waller said, referring to the latest figures that showed a decrease in price pressures.

「我們昨天得到的通膨數據非常好，」沃勒表示，他指的是顯示物價壓力下降的最新數據。

He added that if similar inflation data continues to be reported, it would be reasonable to expect rate cuts in the first half of the year, with the possibility of a cut as early as March.

他補充說，如果繼續報告類似的通膨數據，那麼預計上半年降息是合理的，最早有可能在3月降息。

Waller also stated that future cuts could exceed current market expectations if inflation falls in line with December’s favorable data.

沃勒也表示，如果通膨率與 12 月的有利數據相符，未來的降息可能會超出當前市場預期。

The two-year Treasury yield, which closely reflects Federal Reserve policy changes, dropped to 4.25% after Waller’s comments. Markets are now expecting 40 basis points of rate cuts in 2025, up from 34 basis points earlier.

沃勒發表上述言論後，密切反映聯準會政策變化的兩年期公債殖利率跌至4.25%。市場目前預估 2025 年降息 40 個基點，高於先前的 34 個基點。

However, Waller emphasized that the pace of cuts remains data-dependent. “If the data doesn’t cooperate, then you’re going to be back to two, maybe even one [cut] if we just get a lot of sticky inflation,” he said.

然而，沃勒強調，削減的步伐仍取決於數據。 「如果數據不配合，那麼如果我們出現嚴重的黏性通膨，那麼你將回到兩次，甚至一次[削減]，」他說。

The labor market continues to influence the Fed’s outlook, with recent data showing steady job growth and lower unemployment at the end of 2024. Waller described the labor market as “solid, not booming.”

勞動力市場繼續影響聯準會的前景，最近的數據顯示就業成長穩定，失業率在 2024 年底下降。

Bitcoin responded positively to Wednesday’s CPI release, aligning with Waller’s optimistic inflation outlook.

比特幣對週三公佈的消費者物價指數做出了積極反應，這與沃勒樂觀的通膨前景一致。