Thank you @ Phyrex for translating and organizing the answer to the reporter's question: Question 1: 25 basis points will not open up Hormuz. How do you see a small rate hike and what changes can it make? Walsh's answer: We cannot change oil prices, what we need to do is to ensure that the market does not deteriorate further. Question 2: The impact of high interest rates and rising inflation is a supply issue. What should we do? Walsh's answer: We still don't provide forward guidance, and we think it's appropriate to raise interest rates now. Question 3: Is the market currently guiding the Federal Reserve to raise interest rates Walsh's answer: Currently, the Federal Reserve believes that interest rates should be raised, rather than being driven by the market. Our current assessment is that interest rates should be raised. Fourth question: the impact of today's interest rate hike on American consumers and what to say to Trump. Walsh replied: I have nothing to say to Trump. I didn't talk to him about this in advance. The Federal Reserve serves the American people, and now the economy is very strong. We have achieved full employment and can stabilize prices. Question 5: Is demand rebounding due to the July meeting and current changes. Walsh's answer: I am not someone who relies on data, and I do not directly rely on data to provide answers. In the past seven weeks, we have made clear decisions, and I emphasize three things. The first is that the economy is very strong, and the labor market, including the economy, has shown signs of strength. Secondly, inflation is indeed important, and we need to see the reality of inflation. Thirdly, geopolitics is something we cannot ignore. Question 6: Today's interest rate hike decision has eliminated a lot of uncertainty. Is the current interest rate restrictive. Walsh's answer: It's hard for me to describe now. It can't be said to be restrictive, and it's not really a tightening. We have canceled some adjustments. Question 7: Most Federal Reserve officials believe it is an adaptive tightening, currently approaching the level and target of neutral interest rates Walsh's answer: Simply put, I have always been interested in ZTE's interest rate, but it has no impact on the operation. Question 8: Do you dislike the issue of data dependence? Is the CPI data appropriate for raising interest rates. Walsh's answer: I think I've gotten used to waiting for some data in the past decade, but I'm not like that. I don't just look at data, I think trends are more important, even more important than data. Question 9: Trump said that raising interest rates would cut off trade. What do you say about the independence of the Federal Reserve and what do you say to Trump. Walsh's answer: I don't have any information. The Federal Reserve insists on independence. Question 10: The impact of interest rate hikes on civilians. Walsh's answer: We have spent a lot of time researching the results, but there are not many of the poorest people in this country. They rely on unemployment benefits, which will help them get through, after all, we are in full employment and now it is to stabilize prices. Question 11: Measures taken by the European Central Bank. Walsh's answer: I will not ask Europe to judge our decisions. I have had many discussions with foreign central banks recently, and I have heard many representatives from countries say that they are facing rising inflation. The interest rate adjustment in the United States is not only facing the United States, but also facing the whole world. When central banks in various countries face rising inflation, they will choose to raise interest rates. Question 12: Last quarter, there were concerns about the Federal Reserve's business trips, but now there are interest rate hikes. Why is this? Walsh's answer: About 120 days ago, I felt that the US economy was strengthening and strengthening, but the problem was inflation. Stabilizing prices has been a long-term issue, but now inflation is too high, and we need to raise interest rates in order to cancel easing. Question 13: Issues in the Bond Market Walsh's answer: The rise in yields will be very complex, and the whole world is related to three things, including economic strength, capital competition, and geopolitics, all of which will lead to an increase in interest rates. Question 14: Jackson Hole hopes to see a rapid decline in inflation, and can today's interest rate hike quickly return to 2%? However, the outlook is that it will not reach 2% until 2029 Walsh's answer: These are the predictions of our 18 colleagues, but I don't want to make predictions. Our job is to maintain price stability. My promise in July was to hurry up, and it's the same in August. So far, our goal is to maintain price stability. We will continue the discussion next. Question 15: Is there a concern about AI's harm to the real world Walsh's answer: We have spent a lot of time considering AI, and we are very concerned about its impact on demand and supply. We have set up a working group to make various reports, but currently various policies are made by other parts of the United States, not the Federal Reserve. Question 16: Inflation is mainly caused by rising energy prices and supply issues, and raising interest rates cannot solve these problems. Raising interest rates will cause employment damage to maintain prices. Walsh's answer: I don't think there will be any problem with the unemployment rate. We don't need to stabilize prices by harming employment. Live streaming original post address: https://(x.com)/PhyrexNi/status/2100298586754074