美联储沃勒暗示，如果通胀继续当前的通货紧缩趋势，美联储将在 2025 年多次降息

沃勒周四在 CNBC 上发表讲话时表示，“我们昨天获得的通胀数据非常好”，他指的是显示物价压力有所降温的最新数据。

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

美联储理事克里斯托弗·沃勒(Christopher Waller)建议，如果通胀继续显示出降温迹象，2025年将多次降息。

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.

沃勒周四在 CNBC 上发表讲话时强调了有利的 12 月份通胀数据，他表示这些数据将支持上半年降息，可能最早从 3 月份开始。

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

“我们昨天得到的通胀数据非常好，”沃勒表示，他指的是显示物价压力下降的最新数据。

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.

他补充说，如果继续报告类似的通胀数据，预计上半年降息是合理的，最早有可能在3月份降息。

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

沃勒还表示，如果通胀率与 12 月的有利数据相符，未来的降息可能会超出当前市场预期。

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.

沃勒发表上述言论后，密切反映美联储政策变化的两年期国债收益率跌至4.25%。市场目前预计 2025 年降息 40 个基点，高于此前的 34 个基点。

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，沃勒强调，削减的步伐仍然取决于数据。 “如果数据不配合，那么如果我们出现严重的粘性通胀，那么你将回到两次，甚至一次[削减]，”他说。

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.”

劳动力市场继续影响美联储的前景，近期数据显示，到 2024 年底，就业增长稳定，失业率下降。沃勒将劳动力市场描述为“稳健，而非繁荣”。

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

比特币对周三公布的消费者价格指数做出了积极反应，这与沃勒乐观的通胀前景一致。