US Fed cuts key lending rate by jumbo half percentage point - 미국 연준, 기준 대출 금리 점보 0.5%포인트 인하

https://www.koreatimes.co.kr/www/world/2024/09/501_382644.html

US Fed cuts key lending rate by jumbo half percentage point

 

 

The U.S. Federal Reserve on Wednesday lowered its benchmark interest rate by half of a percentage point, the first cut in four and a half years, in a major policy shift less than seven weeks away from the presidential election.

 

lending rate 대출금리

jumbo 아주 큰, 특대의, 점보 제트기

U.S. Federal Reserve 미국 연방 준비 제도

lower = cut = slash = drop = let down = move down 낮추다, 깎다, 감소시키다

benchmark interest rate = key lending rate = interest rate = standard rate = basemoney rate = base interest rate = base rate = Repo rate 기준 금리

policy shift 정책 변화

presidential election 대선, 대통령 선거

 

After the two-day Federal Open Market Committee (FOMC) meeting, the central bank announced the decision to reduce the rate to the 4.75 to 5.0 percent range from its 23-year high, putting an end to its post-pandemic tightening cycle. FOMC members' new median economic projections showed that the federal funds rate would be cut to 4.4 percent at the end of this year — a hint that the Fed could further lower the rate later this year.

 

Federal Open Market Committee 연방 공개 시장 위원회(연방 준비 제도의 단기 통화 정책 결정 기구, FOMC)

central bank 중앙 은행

announce = inform = pronounce = declare = manifest = confirm = impart = convey = make known = issue = report 알리다, 보고하다, 전하다

reduce the rate = cut the rate = lower the rate 금리를 낮추다

put an end = finish = close = complete = conclude = bring an end = terminate 끝내다, 종료하다

tightening cycle 긴축 사이클

economic projections 경제 전망

federal fund rate 미국 연방 자금 금리

 

The rate reduction came as inflation has been getting closer to the Fed's target of 2 percent. Last month, annual consumer inflation fell to 2.5 percent. The latest median projections indicated that Personal Consumption Expenditures (PCE) inflation may fall to 2.3 percent at the end of this year and 2.1 percent at the end of next year. During a press briefing, Fed Chair Jerome Powell said that the central bank has "in fact begun the cutting cycle now" while highlighting that the U.S. economy is "in a good shape."

 

rate reduction 금리 인하

get closer to ~에 근접하다, ~에 가까워지다

annual consumer inflation 연간 소비자 인플레이션

median projections 중앙값 예측, 중앙값 추정치

Personal Consumption Expenditures (PCE) 개인 소비 지출

Press briefing 기자 회견

highlight = stress = emphasize = underline = underscore 강조하다

be in a good shape 건강하다, 컨디션이 좋다

 

"Our decision today is designed to keep it there. More specifically, the economy is growing at a solid pace. Inflation is coming down closer to our 2 percent objective over time, and the labor market is still in solid shape. Our intention is really to maintain the strength that we currently see in the U.S. economy," the chair said. "We will do that by returning rates from their high-level ... We're going to move those down over time to a more normal level," he added.

 

be designed to = be planned to = be set to ~하도록 제작되다

keep it there 놔두다, 보류하다

more specifically 좀 더 구체적으로 말하면

at a solid pace 견고한 속도로 

come down = drop = decrease = decline = go down = lower = reduce 내려가다, 떨어지다, 낮아지다

objective = goal = target 목표, 목적

labor market 노동 시장

in solid shape = in a good shape 견고한 모양으로, 건강한 형태로

to a normal level 정상적인 수준으로

 

 

But he said "no" to a question of whether the central bank effectively declared a decisive victory over inflation. "The goal is to have inflation move down to 2 percent on a sustainable basis. We are close, but we are not really at 2 percent," he said. "We are not saying mission accomplished or anything like that. But I have to say though we're encouraged by the progress that we have made."

 

declare = announce = inform = pronounce = manifest = confirm = impart = convey = make known = issue = report 알리다, 보고하다, 전하다

decisive victory 결정적 승리

on a sustainable basis 지속가능한 기준으로

accomplish a mission 임무를 수행하다

 

From March 2022 to July last year, the central bank raised the key rate 11 times under an aggressive campaign to cool inflation that hit a peak of 9.1 percent in June 2022. After the hikes, the Fed kept the rate steady for eight consecutive times. This week's Fed rate cut put the gap between the key rates of South Korea and the United States at 1.5 percentage points.

 

cool inflation 인플레이션을 완화하다

raise the key rate 금리를 올리다

aggressive campaign 공격적인 활동

keep sth steady 유지하다

for eight consecutive times 8회 연속으로

put the gap between A and B ~와 ~사이에 간격을 두다

 

The timing of the rate cut has been anticipated by both consumers and businesses as it will lower their borrowing costs — a reason why it has taken on political overtones during the election season. Republican presidential candidate Donald Trump opposed a rate reduction close to the general election, saying in a Bloomberg News interview in May, "It's something that they know they shouldn't be doing."

 

the timing of the rate cut 금리 인하 시기

be anticipated by ~에 의해 예상되어 지다

borrowing cost 차용 비용, 대출 비용

political overtones 정치적 함축

election season 선거 기간

Republican presidential candidate 공화당 대선 후보

oppose = dissent = go against = object = accuse = deprecate = cross = resist = gainsay = raise an objection to ~에 반대하다

general election 총선거

 

But for his Democratic rival, Kamala Harris, the rate cut could be a boost for her campaign given that the reduction signals that the fight against inflation has fared well. Mindful of the political discourse, Powell underlined that the Fed is not "serving any politician" but is working for "all Americans."

 

boost = stimulus = catalyst = accelerator 촉진제, 부스터

fare well = bid farewell to 작별하다

mindful of ~을 유념하는, ~을 염두에 둔

political discourse 정치적 담론

underline = highlight = stress = emphasize = underscore 강조하다

work for = serve ~을 위해 일하다, ~을 지지하다

 

"Countries that are democracies around the world ... all have what are called independent central banks, and the reason is that people have found over time that insulating the central bank from direct control by political authorities avoids making monetary policy in a way that favors, maybe, people who are in office," he said.  "I think the data are clear that countries that have independent central banks, they get lower inflation. We do work to serve all Americans. We are not serving any politician, any political figure, any cause, any issue, nothing," Powell added.

 

what are called = so-called 소위 이른바

insulate = shield  절연하다, 방음 처리를 하다, ~을 보호하다, ~을 격리하다

direct control 직접 조종

political authorities 정치 당국

monetary policy 금융 정책, 재정 정책, 통화 정책

favor ~에 편들다, 장려하다, 조력하다, 찬서하다, 호의를 보이다

politician = Congressman = lawmaker = legislator = lawgiver = parliamentarian 입법자, 국회의원

political figure 정치인, 정치적 인물

 

In a social media post, President Joe Biden commented on the rate reduction. "We just reached an important moment: Inflation and interest rates are falling while the economy remains strong," he wrote on X, formerly Twitter. "The critics said it couldn't happen – but our policies are lowering costs and creating jobs." 

 

social media post 소셜 미디어 게시물

comment on ~에 대해 발언하다, ~에 대한 발언

reach an important moment 중요한 순간에 달하다

formerly = previously 이전의, 예전의

create jobs 일자리를 창출하다, 일자리를 만들다

 

 

 

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