日本時間2012/04/26 （木） 01:30ごろ発表
Press Release
Release Date: April 25, 2012
For immediate release
Information received since the Federal Open Market Committee met in March suggests that the economy has been expanding moderately. Labor market conditions have improved in recent months; the unemployment rate has declined but remains elevated. Household spending and business fixed investment have continued to advance. Despite some signs of improvement, the housing sector remains depressed. Inflation has picked up somewhat, mainly reflecting higher prices of crude oil and gasoline. However, longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects economic growth to remain moderate over coming quarters and then to pick up gradually. Consequently, the Committee anticipates that the unemployment rate will decline gradually toward levels that it judges to be consistent with its dual mandate. Strains in global financial markets continue to pose significant downside risks to the economic outlook. The increase in oil and gasoline prices earlier this year is expected to affect inflation only temporarily, and the Committee anticipates that subsequently inflation will run at or below the rate that it judges most consistent with its dual mandate.
To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.（予想どおりの金利据え置き、2014年まで異例の低金利を続ける）
The Committee also decided to continue its program to extend the average maturity of its holdings of securities as announced in September. The Committee is maintaining its existing policies of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee will regularly review the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate to promote a stronger economic recovery in a context of price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Sarah Bloom Raskin; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action was Jeffrey M. Lacker, who does not anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate through late 2014. （いつものおじさんが反対）
FRB: Press Release--Federal Reserve issues FOMC statement--April 25, 2012
http://www.federalreserve.gov/newsevents/press/monetary/20120425a.htm
3:00ごろ FOMC経済見通し発表
3:15ごろ バーナンキ議長会見
「FRBは追加策の用意は残している。」
「インフレは目標に近づいている。」
「コアインフレは予想より強い。」
「もし強い指標が見られれば調整も。」
「経済指標次第。」
「日銀と見解の相違が見られるとの指摘は間違い。」
「米国はデフレではない。」
「FOMCは当面、現在提示した声明が心地よい。」
「市場はスペイン、イタリアからのストレスにさらされている。」
「失業率改善のため高いインフレ率は必要ない。」
「今後の経済動向は依然不透明。」
「ツイストオペを終了しても金利への影響は最小限。」
「金融政策の目的は投資家を失望させないことでない。」
「いずれかの時点では利上げも。」
「暖冬はたぶん1月と2月の雇用を前倒しさせた。将来の雇用創出予測は、これまでの5～6ヵ月間ほどは多くない。」
市場予想どおりの実質ゼロ金利据え置きでした。
そして、前回と同様、例の2014年終盤まで異例の低金利を続けることが明記されました。
そしてこれも前回と同様、反対票を投じたのは１名で、理由は、
2014年云々の記載に反対という理由でした。
その後のバーナンキ会見では、
前向きな発言が連発。
利上げを匂わせる発言も飛び出しました。
常識的、ファンダメンタル分析的に考えると、
FOMC金利では、株、ドル相場、ともにさほど動かず、
バーナンキ議長会見で、
株 上昇
ドル 上昇
となるのが自然に思えます。
では、この材料を受けて、机上の空論ならぬ現実のマーケットはどのように動いたのでしょうか？
↓のチャートを見る前に１分間想像してみてください。
・NYダウ の値動き → 上昇？下落？
・ドル円 の値動き → 上昇？下落？
・ユーロドル の値動き → 上昇？下落？
・ユーロ円 の値動き → 上昇？下落？
・ポンドドル の値動き → 上昇？下落？
・ポンド円 の値動き → 上昇？下落？
・原油 の値動き → 上昇？下落？
・金 の値動き → 上昇？下落？
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