YIELD & SPREAD

FOMC 의사록 주요 내용(경제 및 고용)

- 구성원 전원: 전반적인 경제 활동은 1분기 하락한 후 회복
(current economic conditions, participants noted that overall economic activity appeared to have picked up after edging down in the first quarter.)

- 구성원 전원: 최근 소비지출 호조가 유지되면서 GDP 성장세도 확대 중. 그러나 MBS 금리 급등, 고정자본투자 증가세 둔화로 주택 부문 활동도 둔화되고 있음. 따라서, 공급망 혼란과 긴축 재정 상태 등도 고려, 금년 2022년 GDP 성장률 전망치 하향 조정
(participants noted that recent indicators suggested that real GDP growth was expanding in the current quarter, with consumption spending remaining strong. Participants generally judged that growth in business fixed investment appeared to be slowing, and activity in the housing sector appeared to be softening, in part as a result of a sharp rise in mortgage rates. Correspondingly, participants indicated that they had revised down their projections of real GDP growth for this year, consistent with ongoing supply chain disruptions and tighter financial conditions.)

- 구성원 전원: 현재까지 공급망 개선 증거를 거의 보지 못했음
- 그 중 몇몇(some of them) 구성원: 공급망 혼란 여파가 기존 예상보다 더 오래 지속될 가능성
(Participants saw little evidence to date of a substantial improvement in supply constraints, and some of them judged that the economic effects of these constraints were likely to persist longer than they had previously anticipated.)

- 일부(several) 구성원: 가계 소비가 상품, 재화에서 서비스로 옮겨가는 모습. 소비지출 정도는 여전히 강하지만 일부 완화 조짐 보이기 시작
(Several participants noted that household spending patterns appeared to be shifting away from goods to services. Several participants indicated that some of their contacts reported that the pace of consumer spending, though strong, was beginning to moderate.)

- 구성원 전원: 사업 부문은 매출 강세 유지되고 있지만 일부 판매 둔화 시작. 향후 전망의 낙관 정도도 약화
(With respect to the business sector, participants observed that their contacts generally reported that sales remained strong, although some contacts indicated that sales had begun to slow and that they had become less optimistic about the outlook.)

- 구성원 전원: 고용은 수요 초과 현상 지속 중. 그러나 일부 사업체는 연이은 임금 인상으로 안정적인 채용이 가능하며, 임금 인상 압력이 약화된다고 응답
(Participants noted that the demand for labor continued to outstrip available supply across many parts of the economy. Some contacts reported that, because of previous wage hikes, hiring and retention had improved and pressure for additional wage increases appeared to be receding.)

- 다수(a number of) 구성원: 유휴 일자리가 매우 많은 점을 보면, 추후 실업률 상승은 크지 않을 수 있음
(In light of the very high level of job vacancies, a number of participants judged that the expected moderation in labor demand relative to supply might primarily affect vacancies and have a less significant effect on the unemployment rate.)

492 views00:03