The Fed is in conflict with the market, which is starting to look very prosperous. On the one hand, Fed officials would like more data before raising rates again, while on the other hand, the Fed's work is far from over, as inflation remains well above its 2% target. Although waiting for lagging effects to take hold seems logical, a pause in Fed rate hikes could release more enthusiasm for risky assets from investors. “A pause now would facilitate a risk preference in financial markets that would be disruptive to the monetary transmission mechanism,” Morgan Stanley chief economist Bruce Kasman said. “I think this is about signaling to the markets that the Fed is going to be gradual in terms of bringing down inflation. Given the strength of the labor market and inflation stickiness, they are more likely to continue to tighten at some point this year.”
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伪原创：
美国联邦储备委员会与市场正处于冲突状态，但市场的繁荣正在开花结果。一方面，美联储官员想在再度加息前收集更多数据，另一方面，通胀仍高出2%的目标。虽然推迟加息似乎是合理的，但是，这可能会释放投资者对于高风险资产的热情。根据摩根大通首席经济学家布鲁斯·卡斯曼的说法：“现在暂停会在金融市场中引发风险偏好，这可能会损害货币传导机制。我认为这是一种向市场释放信号的方式，表明美联储会逐步降低通货膨胀。鉴于劳动力市场稳固和通货膨胀保持上涨，他们更有可能在今年某个时刻继续加息。”
