【英語多読練習】(2024年6月22日)Business News Today


Economic News for June 21, 2024

1. Federal Reserve’s Interest Rate Strategy


The Federal Reserve has announced that it will maintain the current interest rates between 5.25% and 5.5% until the middle of 2024. This decision comes amidst ongoing efforts to manage inflation and stabilize the economy. The Fed’s strategy includes potential rate cuts starting in June 2024, contingent upon continued moderation of inflation. The Fed’s current stance is driven by the need to balance economic growth with inflation control, aiming to prevent the economy from overheating while also avoiding a severe downturn.

The Federal Open Market Committee (FOMC) believes that the current rate is appropriate to support ongoing economic activity and labor market conditions while bringing inflation back to the 2% target. The policy of quantitative tightening, which involves reducing the Fed’s balance sheet, will also continue at its current pace of $95 billion per month. This approach is expected to remove approximately $1 trillion from the economy over the next year, further aiding in controlling inflation.

The decision to hold rates steady reflects the Fed’s cautious approach in response to mixed economic signals, including strong labor markets and moderating inflation. The Fed has also noted the impact of global economic conditions and financial market developments on the U.S. economy, underscoring the importance of a data-dependent approach to monetary policy​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​.



連邦準備制度のバランスシートを削減する定量的引き締め政策も、現在の月額950億ドルのペースで続けられます。このアプローチは、来年中に経済から約1兆ドルを取り除くと予想されており、インフレ抑制に役立ちます。金利を据え置く決定は、強い労働市場と緩やかなインフレなどの混在する経済指標に対応するための連邦準備制度の慎重なアプローチを反映しています。また、米国経済に対する世界的な経済状況や金融市場の発展の影響にも注目しています​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。



美联储的量化紧缩政策,也就是减少资产负债表的规模,将继续以每月950亿美元的速度进行。预计这种做法将在明年内从经济中抽取约1万亿美元,进一步帮助控制通胀。保持利率不变的决定反映了美联储对混合经济信号的谨慎应对,包括强劲的劳动力市场和通胀缓和。美联储还指出,全球经济状况和金融市场发展的影响对美国经济的重要性,强调了基于数据的货币政策方法​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。

2. U.S. Inflation Trends


The U.S. inflation rate is showing signs of moderation, with the Consumer Price Index (CPI) for all urban consumers rising by 3.3% over the past 12 months. In May, the CPI was unchanged on a seasonally adjusted basis, while the core CPI, which excludes food and energy prices, increased by 0.2%. This reflects a continuing trend of slowing inflation, particularly in the goods and services sectors.

The Federal Reserve has been closely monitoring inflation trends as part of its mandate to ensure price stability. The moderation in inflation is attributed to several factors, including easing supply chain disruptions, stabilizing commodity prices, and the effects of previous monetary policy tightening. However, certain sectors, such as housing and healthcare, continue to experience higher-than-average price increases, which the Fed acknowledges as areas of concern.

Policymakers remain vigilant about the potential for inflationary pressures to resurface, particularly if economic growth accelerates or if there are further disruptions in global supply chains. The Fed’s data-dependent approach will involve careful analysis of economic indicators to guide future monetary policy decisions​ (BLS.gov)​​ (J.P. Morgan | Official Website)​.




政策立案者は、経済成長の加速や世界的な供給チェーンのさらなる混乱が発生した場合にインフレ圧力が再浮上する可能性について警戒を続けています。連邦準備制度のデータ依存アプローチは、将来の金融政策決定を導くための経済指標の慎重な分析を伴います​ (BLS.gov)​​ (J.P. Morgan | Official Website)​。




政策制定者对通胀压力可能重新出现保持警惕,特别是如果经济增长加速或全球供应链出现进一步中断。美联储的数据依赖方法将涉及对经济指标的仔细分析,以指导未来的货币政策决定​ (BLS.gov)​​ (J.P. Morgan | Official Website)​。

3. Employment Growth


The U.S. labor market continues to show resilience with a notable increase of 272,000 nonfarm payroll jobs in May. This growth is driven by significant gains in sectors such as healthcare, government, and professional services. The unemployment rate remains stable at 4.0%, indicating a strong demand for labor across various industries.

Healthcare continues to be a leading sector in job creation, reflecting ongoing demand for medical services and an aging population requiring more healthcare resources. Government employment has also seen robust growth, driven by increased hiring at the federal, state, and local levels. Additionally, the professional, scientific, and technical services sector has expanded, benefiting from technological advancements and increased business investments in innovation.

Despite the positive job growth, some challenges persist. Wage growth has slowed compared to previous years, and there are concerns about potential mismatches between the skills of available workers and the demands of new job openings. Moreover, the labor force participation rate has shown little improvement, indicating that some individuals remain out of the labor market.

Policymakers are focused on addressing these issues through training programs and initiatives aimed at increasing labor force participation. The continued strength of the labor market is essential for supporting consumer spending and overall economic growth. With more jobs being created in high-demand sectors, it is crucial to ensure that workers are equipped with the necessary skills to meet these new opportunities​ (BLS.gov)​​ (NRF | Homepage)​.





政策立案者は、これらの問題に対処するために、訓練プログラムや労働力参加率を高めるためのイニシアチブに注力しています。労働市場の強さを維持することは、消費支出と全体的な経済成長を支えるために不可欠です。需要の高い分野での雇用が増える中、労働者がこれらの新しい機会に対応できるように必要なスキルを身につけることが重要です​ (BLS.gov)​​ (NRF | Homepage)​。





政策制定者专注于通过培训计划和提高劳动力参与率的举措来解决这些问题。劳动力市场的持续强劲对于支持消费支出和整体经济增长至关重要。随着高需求行业创造更多就业机会,确保工人具备应对这些新机会所需的技能至关重要​ (BLS.gov)​​ (NRF | Homepage)​。

4. Consumer Spending


Despite rising borrowing costs, consumer spending in the United States remains robust, buoyed by strong labor market conditions. The resilience of consumer spending is crucial as it constitutes a significant portion of the U.S. GDP. Key drivers include wage gains, although at a slower pace, and continued consumer confidence in the economic recovery.

The latest data shows that core retail sales, which exclude automobiles and gasoline, increased by 3.8% year-over-year. This growth is indicative of consumer willingness to spend on both goods and services despite ongoing cost pressures. Retail sales have been supported by a combination of factors, including pent-up demand from the pandemic period and the gradual reopening of the economy, which has allowed consumers to return to normal spending patterns.

However, there are signs of potential slowing in the future. Elevated borrowing rates and tight lending standards are starting to impact consumer behavior, leading to more cautious spending patterns. Additionally, with student loan repayments resuming, some households may face increased financial pressure, which could dampen their spending capacity.

Economic analysts are keeping a close watch on these trends, as consumer spending is a critical indicator of economic health. The balance between maintaining strong consumer spending and managing inflationary pressures will be a key focus for policymakers in the coming months​ (NRF | Homepage)​.





経済アナリストはこれらのトレンドを注視しており、消費支出は経済の健康状態を示す重要な指標です。強力な消費支出を維持しながらインフレ圧力を管理することが、今後数ヶ月の政策立案者の主要な焦点となるでしょう​ (NRF | Homepage)​。





经济分析师密切关注这些趋势,因为消费支出是经济健康的重要指标。在未来几个月,政策制定者将主要关注在保持强劲消费支出的同时管理通胀压力的平衡​ (NRF | Homepage)​。

5. Global Economic Stability


The global economy is stabilizing, with a projected growth rate of 2.6% in 2024. This stability is driven by improved trade relations, favorable economic policies, and the gradual recovery from the COVID-19 pandemic. Key regions such as North America, Europe, and Asia are experiencing varying degrees of economic recovery, each influenced by their unique economic policies and market conditions.

In North America, the United States plays a pivotal role in global economic stability. The Federal Reserve’s monetary policies, including interest rate adjustments and quantitative tightening, have significant implications for global markets. As the U.S. economy continues to recover, its robust labor market and consumer spending are critical factors supporting global demand. Additionally, Canada’s economic outlook remains positive, supported by strong commodity prices and resilient domestic demand​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​.

Europe is also on a path to recovery, although at a slower pace compared to North America. The European Central Bank (ECB) has maintained a cautious approach to monetary policy, focusing on controlling inflation while supporting economic growth. Key economies like Germany and France are showing signs of stabilization, driven by strong industrial output and consumer spending. However, challenges such as energy supply constraints and geopolitical tensions, particularly in Eastern Europe, continue to pose risks to the region’s economic outlook​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​.

In Asia, China and India remain significant contributors to global economic stability. China’s economic growth is supported by government stimulus measures and a gradual recovery in consumer demand. The Chinese government has implemented policies to stabilize the housing market and support small and medium-sized enterprises (SMEs), which are vital for job creation and economic growth. India’s economy is also showing strong growth, driven by robust domestic demand, government infrastructure investments, and a dynamic services sector​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​.

Despite these positive trends, several risks could impact global economic stability. These include potential disruptions in global supply chains, fluctuating commodity prices, and the ongoing geopolitical tensions. Policymakers worldwide are focused on implementing measures to mitigate these risks and sustain economic growth. Cooperation between major economies is crucial to address global challenges such as climate change, trade imbalances, and technological advancements​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​.



北米では、米国が世界経済の安定において重要な役割を果たしています。連邦準備制度の金融政策、特に金利調整と定量的引き締めは、世界市場に大きな影響を与えます。米国経済が回復を続ける中、強力な労働市場と消費支出が世界の需要を支える重要な要素となっています。また、カナダの経済見通しも堅調で、強力な商品価格と堅実な国内需要に支えられています​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。

ヨーロッパも回復の途上にありますが、北米と比べてペースは遅いです。欧州中央銀行(ECB)は、インフレを抑制しながら経済成長を支援することに重点を置き、慎重な金融政策を維持しています。ドイツやフランスなどの主要経済国は、強力な工業生産と消費支出に支えられて安定の兆しを見せています。しかし、エネルギー供給の制約や東欧での地政学的緊張などの課題が、この地域の経済見通しにリスクをもたらしています​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。

アジアでは、中国とインドが世界経済の安定に大きく貢献しています。中国の経済成長は政府の刺激策と消費需要の段階的な回復に支えられています。中国政府は、住宅市場の安定化と中小企業(SME)の支援に向けた政策を実施しており、これらは雇用創出と経済成長に重要です。インドの経済も堅調で、強力な国内需要、政府のインフラ投資、そして活発なサービスセクターに支えられています​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。

これらのポジティブなトレンドにもかかわらず、世界経済の安定に影響を与えるリスクがいくつかあります。これには、世界的なサプライチェーンの混乱、商品価格の変動、そして継続する地政学的緊張が含まれます。世界中の政策立案者は、これらのリスクを軽減し、経済成長を持続させるための対策を講じています。主要経済国間の協力は、気候変動、貿易不均衡、技術の進歩などのグローバルな課題に対処するために重要です​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。



在北美,美国在全球经济稳定中发挥着关键作用。美联储的货币政策,包括利率调整和量化紧缩,对全球市场具有重要影响。随着美国经济的持续复苏,其强劲的劳动力市场和消费支出是支持全球需求的关键因素。此外,加拿大的经济前景依然乐观,受到强劲的商品价格和稳健的国内需求的支持​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。

欧洲也在走向复苏,但速度较北美慢。欧洲央行(ECB)在货币政策上保持谨慎,重点控制通胀,同时支持经济增长。德国和法国等主要经济体表现出稳定的迹象,受强劲的工业产出和消费支出驱动。然而,能源供应限制和地缘政治紧张局势,特别是东欧地区,继续对该地区的经济前景构成风险​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。

在亚洲,中国和印度仍是全球经济稳定的重要贡献者。中国的经济增长受到政府刺激措施和消费需求逐渐恢复的支持。中国政府已实施政策,以稳定房地产市场和支持中小企业(SME),这些对于就业创造和经济增长至关重要。印度经济也表现出强劲的增长,受到稳健的国内需求、政府基础设施投资和动态的服务部门的驱动​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。

尽管这些积极趋势存在,但全球经济稳定仍面临若干风险。这些风险包括全球供应链可能中断、商品价格波动以及持续的地缘政治紧张局势。全球各地的政策制定者专注于实施措施以减轻这些风险并保持经济增长。主要经济体之间的合作对于解决气候变化、贸易失衡和技术进步等全球挑战至关重要​ (J.P. Morgan | Official Website)​​ (NRF | Homepage)​。