citing strong jobs growth and rising home prices which tend to spur consumer spending.

引用強勢的就業增長與房價上漲往往會刺激消費支出為證

The labor market has continued to strengthen.

勞動市場持續在增溫

Job gains has averaged a hundred eighty thousands per month so far this year

今年以來，就業人口每月平均新增 18 萬

down only slightly from the average in 2016.

僅比 2016 年的平均略低而已

and still well above the pace we estimate

而且比我們預估

would be sufficient on average to provide jobs for new entrance to the labor force.

將可以提供足夠的職缺給新進勞動力的步調還要高多了

Strong jobs growth normally leads to higher wages,

強勁的就業成長通常會導致薪資的增加

and when combined with a boost in employment

當再加上就業機會的增加

it generally puts upward pressure on consumer prices.

一般會對物價產生上漲的壓力

But, inflation has be stubbornly subdued.

但通膨率卻裹足不前

The committee continues to expect that the evolution of the economy

委員會持續地預期經濟的發展

will warrant gradual increases in the federal funds rate over time

將能保證聯邦基金利率會隨著時間逐漸提高

to achieve and maintain maximum employment and stable prices.

去達到並維持最高的就業率和穩定的物價

That expectation is based on our view

這期望是基於我們認為

that federal funds rate remains somewhat below its neutral level.

聯邦基金利率目前低於自然水準

That is the level of federal funds rate that is neither expansionary nor contractionary

自然水準指的是既不寬鬆亦不緊縮的聯邦基金利率水平

and keeps the economy operating on an even keel.

且能使經濟平穩地運行

Many in the financial industry interpret this language as being a strong hint

許多金融業者將這段言論理解為一個強烈的暗示

that the Fed is likely to slowdown the pace of future rate hikes.

暗指聯準會要減緩未來升息的步調

And though Yellen says there's still a lot of uncertainty,

即使葉倫表示仍有許多不確定性存在

she's still sticking to her original thesis

但她仍堅守她原本的論點

which is if economic conditions continue as they are,

也就是若經濟情勢持續像現在一樣

eventually inflation will bubble up,

通膨最後將會泡沫化

and that will need higher interest rates in order to contain it.

就需要用更高的利率以遏制它了

Daniel Wrenches, CGTN, Washington.

Daniel Wrenches，中國環球電視網，華盛頓