硅谷银行-2024年第二季度经济报告（英）.pdf

svb)盆嚣gement

QuarterlyEconomic

Report

2ndQuarter2024

SVBAssetManagementviewson

economicandmarketfactorsaffecting

globalmarketsandbusinesshealth

QuarterlyEconomicReport

Publishedin022024IDatafor012024

3Overview

4DomesticEconomy

10ForeignExchange

13CentralBanksandMonetaryPolicy

17CorporateBondMarket

21MarketsandPerformance

svb)总需qement

Overview

KeyTakeaways

TheFOMCmaintainsthefedfundsrateforthefifthconsecutivemeeting.

雹TheFOMCkeptthefedfundsrateatarangeof5.25%to5.50%.Itremainscommittedtoachieving

•TheFederalOpenMarketCommitteemaximumemploymentandits2%inflationtarget.

(FOMC)heldthefedfundsratesteady

atitsMarch2024meeting.AprolongedThetimingofratecutsin2024willbedata-dependent.

inflationaryenvironmentpushedtheTheFedcontinuestoforecastthreeratecutsof25basispoints(bps)eachbytheendof2024,but1s

timingofratecutsintomid-2024,andcarefullyconsideringinflationmetricsandtheeconomysfinancialstability.

reducedthenumberofexpectedrate

cutsfromsixtothreefortheyear.

Inflationhastrendedslightlyupward.

•DuringtheMarchpressconference,Corepersonalconsumptionexpenditures(PCE)一theFedspreferredinflationindicator-rose2.8%on

BoardChairman丿erome