кѥ˥塼

޸Ρкѥ˥塼̤ưͻ֥Ǥϵ岹Ȳ˻ߤΤúи󾧤ޤиӽиȤϰ㤤ޤߤʴ㤤ΤǤ

2010ǯ02

ƹĤ¿ͭƤϤɤ¸ΤǤ礦

񡩡ʤơܤޤ̤֤餤
äܤ֡

֡

֤ɤƤ衩

äѤͭۤ礭äȡƺ̳ʤ׿
ΤǤ

褺ϡȯɽˤʤä׿ߤƤߤޤ礦


ƹĤͭ

񡡡ܡ
2009ǯ
17396ɥ롡6348ɥ
27442ɥ롡6619ɥ
37679ɥ롡6867ɥ
47635ɥ롡6859ɥ
58015ɥ롡6772ɥ
67764ɥ롡7112ɥ
78005ɥ롡7239ɥ
87971ɥ롡7306ɥ
97989ɥ롡7510ɥ
10 7989ɥ롡7459ɥ
11 7896ɥ롡7573ɥ
12 7554ɥ롡7688ɥ


֤ʴäǯ12ܤ
äơš


Ǥϡοͤ򤪼ޤ

ƹĤͭ

񡡡      ܡ
2009ǯ
17396ɥ롡6348ɥ
27442ɥ롡6619ɥ
37679ɥ롡6867ɥ
47635ɥ롡6859ɥ
58015ɥ롡6772ɥ
67764ɥ→9158ɥ롡7112ɥ→7082ɥ
78005ɥ→9399ɥ롡7239ɥ→7209ɥ
87971ɥ→9365ɥ롡7306ɥ→7275ɥ
97989ɥ→9383ɥ롡7510ɥ→7479ɥ
107989ɥ→9383ɥ롡7459ɥ→7429ɥ
117896ɥ→9290ɥ롡7573ɥ→7543ɥ
127554ɥ→8948ɥ롡7688ɥ→7657ɥ

 

ʽʡ

Ǥ͡ο礭夲Ƥޤ

ܤ⽤ˤʤäΡ

ܤʬ⽤ˤʤäƤޤϾʽΤ褦Ǥ

2009ǯ6ʹߤʬˤʤäΤ

Τ褦Ǥ͡

¤ϡν󤳤λ˹ԤŪʸľˤ
Τǡǯ⤳λ˽ʤƤ褦Ǥ

֤ƤäΤȻפäɡšǤ⡢
衣η׿ϡ1394ɥ뤬褻졢ơ
ܤϡ30ɥ뤬Ƥߤɡ
˽οߤȡǯ61000ɥ
ʾ㤤򤷤塢θϡޤ礭ѲϤʤ
ɡ6˲äΤʡš


¤ϡ56礭ؤȯ̤ˤʤäƤ
Ǥɬ6̤ƹĤ
Ȥ̣ʤΤǤ

֤Ǥ⡢1000ɥʾäƤ뤱ɡš

ϡפμѤäȤšλ
ʤäˡˤ꽸פ򤷤Ƥ뤫顢פϢ³ϼ
ǤȹͤŬΤ褦ʤΤǤ

⤦ܤСƺ̳ʤϡ09ǯ6η׿7764
ɥ뤫9158ɥѹ櫓ǤϤʤν
ˡǽפ09ǯ6οͤ7764ɥǤǡ
ʹߤνˡǽפ09ǯ6οͤ9158
ˤʤȸäƤΤǤĤޤ09ǯ6οͤ2Ĥ롢
ȡơ2ĤȤȡ顢6˲̤ʤ
ȤäȤϹͤʤŬʤΤǤ

Ķ񤷤

ˤƤ⡢⤷ƺ̳ʤΤȤ򿮤ʤС
ȴȻפäɤǤϤʤΤޤ
äȡ

֤㤢ƹĤͭ򸺤餷ƤϤʤΡ

ǤϤޤͭǤԡ
450ɥٸƤ뤳ȤˤѤϤʤ褦


ƺ̳ʤϡͻؤʤɤ𵡴ؤ̾ƹĤ
Ȥ뤿ˡιĤͭԡʵڤӤιҡˤ
ǧ뤳ȤˤϺȼȸäƤޤ


ƹ⵶򤷤ƤΤȻפäȤå򤪴
ޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ϡǥե뤿ˤϲפʹ줿
ۤФơθ夬ɬפʤΤ
դ򤺤äȹͤƤޤ

ۤϸޤ夬ȡä
뤳ȤԤǤ롢ȡ

ˤʤΤǤ礦

Τ夹ȡޤɬפȤ줿ϫϤ
¸Ǥʤȡ񤬸Τγˤ
ʤǽޤšषʲʤ㲼
ӤĤʤΤƤޤפˤʤäϫƯԤȤ
ޤΤǤϤʤ


θ夬ɬפϫƯϤϲȤ
ȹͤΤǤСθϻȤƼȤ⤿
ȤΤϡΤȤǤ礦Ĥޤꡢθϡϫ
ƯϤ;⤿餹ȡơϫƯϤ;꤬⤿餵
ʹȡϫƯԤ¦ϡʬϤɤʤΤȿۤˤ
Ǥ礦

кѤĹŪĹȤϤɤȤ̣
褯ͤƲ

кѤĹŪĹ³ȤΤϡǯǯGDP
³뤳ȤʤΤǤ⡢̾ܤGDPǤϤʤ¼GDP
ȤȤȡ

Ǥϡ¼GDP¤ʤ礵뤿ɬפʾϲ
ȡ

GDPϡŪˤϡϫƯԤȻܤѤΤ
Ĥޤꡢ桹ʹ֤Ư餳GDPǤ
⤷͸⸺⤷ʤǤȲꤹС
äƿʹ֤ФΤ䥵ӥ¤ʤä뤳Ȥ
ǤΤȡ

ǤΤˤΨ夲뤳ȤʤΤ
ĤޤꡢθǤפˡ;ϫƯԤ
뤫顢Τ䥵ӥ;ϤGDP
¤ʤ礵ϤޤΤȡդˤС
;ϫƯޤʤ¤ꡢGDP򤤤ĤޤǤ礵³
뤳ȤϤǤʤȡ

ͤȡθˤäޤ;ϫƯ򼺶
ȤȤ館⡢줫ĹݾڤΤ򤹤
ʤΤǤ
ˡϫƯ;꤬ĤޤǤ;Τޤ
ǤȦʤȤˤդɬפޤĤޤꡢĤ
Ǥ⼺ȼԤǤ櫓Ϥʤȡ

10ܤˤʤȤüʥͤƤ
ޤ礦硢ޤ¸ߤȤ9䤬
Żõɬפ櫓Ǥ͡ϡʤ
Ƥ⿩٤˺뤳Ȥ¿ʬʤǤȤȤ˵դ
Ǥϡ㤨СΤ褦ʤȤͤ򤷤䤹
ϤǤ

㤨Сθǡ10ͤοͤä褷Ƥ
ȡ⡢ʬ٤륳Τդǡ
̿Ƥȡ

ȤïˤȤ뤳
ȤͤƤޤΥͤȯȡη̡
1ͤǤޤǤ10ʬ򤹤뤳Ȥǽˤʤä
ȡ

Ĥ9ͤϤϤ䥳ɬפʤʤäǤ
1ͤϡʬǿ٤륳10ܤƤ櫓Ǥ
顢Ĥ9ʬ;ˤʤ櫓Ǥब;𿼤ͤä
顢;ä¾ο͡ʬͿ뤫⤷ޤ󡣤
ϹͤǤ礦ΤϳڤˤʤäȤϤäƤƯ
ƤΤϻ¤ʤΤ顢Ϳ˲
ȡȡĤο͡ϡʬ褹뤿
ɬפʥ뤿ˤͤǤ礦
äơʪäƤƤȥ򴹤Ƥ餪ȡ
ϵȤäƤƸ򴹤Ƥ餪ȡ뤤ϡΤޥå
Ƥƥ餪Ȥ뤫⤷ޤ󡣤ˤ
⡢Ȥäƥ뤳Ȥͤͤϡޤ˼̤10
ˤʤꡢ٤ʤۤɤΥƤޤä櫓Ǥ
顢ȵ褯ȤǤ򴹤뵤ˤʤΤǤϤʤǤ礦

פˡθ夬޷˿ʤС˼ȤŪ
ޤƤ⡢οȤޤƤǤȡ¤
򸫲󤹤ȡ100ǯˤĤʤä褦ʿȤ
ǡ¿¸ߤƤ뤫ȡ

ȤȤǡϫƯϤξϲˤĤʤθϾ
ⶲɬפϤʤȡ


ȤǡʾεϡɬפȤϫƯϤξϲˤ
θˤĤƤΤΤǤϫƯϤν̾ˤϤĤʤ
ʤθŻ뤹뤳Ȥ⤽ƱˡϤ
ʾ˽פǤȤȤ򤪼Ȼפޤ

θȤϡQŪʰ̣ǤϡǽΨ夲
ȤǤ顢ʤΤɬפϫƯʤʤ
Ȥ̣櫓ǤǤˤƤ⡢㤨С
ιӤ򤹤ȤϡϫƯ1ղ
ͳۤؤȤȤϻ¤Ǥ

Ĥޤꡢ̣ǤϡɬפϫƯ̤ɤȤϴط
ʤ⤷ʤȯͰƤʤɤơ줬
Ԥι⤤ٻơƹ⤤ʤ䤵뤳Ȥˤ
Сޤ礭夷Ȥˤʤ櫓Ǥ

㤨СˤơŪˤä뤳ȤϤǤ
ʤƤ⡢Ѥ̣뤳ȤǤƾԤ
ΥФ10ܤβʤդΤǤСޤ
10ܤˤʤäȤ̣ΤǤ

ơξθξˤϡ;ϫƯ
ޤ뤳ȤϤޤ󤫤顢Ȥ򵤤ˤɬפϤ
櫓Ǥ

ƹͤƤȡäѤ夲뤳Ȥǡ˽
פǤ뤫ʬäƤ褦ʵΤǤ

Ǥ⡢Ϥ̣ԾкѤθŻ뤹Ω
ĤʤꡢơǤΤʤС3ƻĴ
̳ȤϡФͤ㤦褦ʵޤ



ˤƤ⡢ȷϡкˤĤƤϤޤؿ
ʤȻפå򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

Сʥ󥭵Ĺ24ͻӥѰǾڸ
⤦ΤΤȤȻפޤ

ǡϲȸä

ͽۤɤΤȤǤϡޤޤĹ³
Ǥȡ

Τ˰ѤСΤȤǤ


The FOMC continues to anticipate that economic
conditions--including low rates of resource utilization,
subdued inflation trends, and stable inflation
expectations--are likely to warrant exceptionally low
levels of the federal funds rate for an extended
period.

 ָԾѰFOMC)ϡкѾĤޤꡢϫƯ
βƯΨˤȤɤޤäƤ뤳ȡեΨΥȥɤ
夤Ƥ뤳ȡơͽۥեΨ夤Ƥ뤳
ȡкѾ㤤եǥե󥺥졼ȤĹ
֤ˤǤ롢Ȱ³ͽۤ

ɽθ夲λʸؤ
ƱΤǤ

it anticipates that economic conditions are likely to
warrant exceptionally low levels of the federal funds
rate for an extended period.

economic conditions ΰ̣Ū˼Ƥ
㤤Ȥа㤤Ǥ櫓ǤŪˤƱ

ȤȤǡޤޤĹ֤Ϥä³
ޤ衢ȸäƤ褦ˤפΤǤ

ǤݸݤƤΤǤ

ݸȤΤϡIJѤä夲򤹤ɬפ
뤫ʬʤȤȤǤ

ϡäƤΤǤ

Although the federal funds rate is likely to remain 
exceptionally low for an extended period, as the 
expansion matures, the Federal Reserve will at some
point need to begin to tighten monetary conditions to
prevent the development of inflationary pressures.

֥եǥե󥺡졼ȤĹ֤Ϥäư㤵ˤȤ
ޤꤽȤϤäƤ⡢ʵ礬ܳʲС
Ϣ䤬ե찵Ϥޤ뤳Ȥɤ˶ͻ
ꤹɬפǤ


äѤСʥ󥭵ĹͥȯʤΤǤ

³뤳Ȥ˴ؤƤ⡢줬ФɬפǤ
Ȥϸ鷺ηкѾ˴դߤСĹ
³Ǥ롢ȤǤꡢޤҤäȤƷʵ
ܳʲСΤȤˤ夲žɬ
Ǥȡ

ޤˡΤȤꡣ

ĤޤꡢСʥ󥭵ĹϲͿƤʤȲ᤹
ʤΤǤ

Ĺ³ϤäƤ˱
夲ž뤳Ȥ⤢Τȡ

˰ĤʤȤäƤȡСʥ󥭵Ĺϡ
Ĺ³ȤϸäƤʤΤǤ

äƤΤϡζĹ³ȡ

Ǥϡ㤤Ȥ϶Ū˲ؤΤ

ϡ1̤ζؤȲ᤹٤ȻפΤ
ϡζͻ»Υܥȥ1ˤȤɤޤä
뤫ǤĤޤꡢ̾ǤСϤɤʤ˲Ƥ
1٤饤ʤΤȡ

ȤȤǡơͶƳ
ɸ0.5˰夲Ƥޤޤζ
³ƤȡʤʤȤȤǤݥȡ


ˤƤ⡢ΥСʥ󥭵Ĺȯϡǡͤˤ
ǽȤ٤˹ͤƤ褵ʵ



ꥫξϡܤۤϪ˥ץ쥷㡼ϤʤΤ
ʡȻפäå򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ľͺ̳ϡ22ͽѰǼΤ褦˽Ҥ٤ޤ

֥ǥեæѤܡζɸܤϺư
׳ϤƤ롣ˤǥեæѤϤ
ؤߤȴԤƤ

ǡФۤϡΤ褦ˡ

֥ǥե줫æѤ뤿ˡȤƤϽ˻򶡵뤷
Ƥ

ɤ˻򶡵뤷Ƥ⡢ʪ徺뤳Ȥϻ
ε˻פΤǤ

ľͺ̳ϡ23кطνĸε
Բ񸫤ǥǥեˤĤơ˼Τ褦˽Ҥ٤Ƥޤ

϶徺ۤƤ褦ܤϤ٤
ȤȤΤǡ٤Ȥ礤ˤäƤ餤


䤬٤ȤäƤʤ褦ˤʹޤ
̳˶Ū˲ƤΤǤ礦

ۤ⡢̤ΥǤȻפΤǤ
Υ⤽ԤƤΤǤϤʤǤ礦

ޤǤ⡢ϡʬϲѤʤȤäƤȤϾ
פäƤǤϤʤΤǤܷ͡кѤɤʤ뤿
մĥäƤ롢ȡ⤦򤫤Ƥ졢ȡ
餳Ƥ;פ˵ʤΤǤ

ϡΤ

פˡ䤬ɤĥäƤ⥤եϵʤ
ȡϡͳʬ䤹ޤ礦

褺ե줬ȤСθ
䤤Ȼפޤ

եθ

餯¿ο̲ͤߤȯԤȥեˤʤ
ΤǤϤʤǤ礦

Τˡե줬ƤȤˤϡ̲ߤȯԤ
ΤǤǤϡ̲ߤȯ̤ɬեˤʤ
Τ¤ϡǤϤʤΤǤ

㤨Сϥѡե줬פФƲ
ΥɥġǶΥХ֥ơ֤ʤ
ܡߤʡ­ǵƤΤǤ

륷åΥե⤽ǤפФƲ
񸻤ͭ¤ȶФ졢ᤤϳ餷ƤޤΤ
Ϥȿۤޤ顢͡ϥȥåȥѡѡޤ㤤
ᤷԾǤϥ­θݤΤǤ

βʤ徺ΤϡOPECηˤäư
줿ȹͤޤǤϤäƤ⡢⤷͡
񸻤󤫤餺ϳ餹ȹͤ뤳Ȥʤä顢
ʤΰ夲ϼ¸ϤϤʤäΤǤ

­ξǡ͡ʤʤʤ˥Τ
ݤ褦ȻפС¶ɤɤФƤǤΤ㤪
Ǥ礦ơư뤫̲ߤȯ
ΤǤ

褷ơԤȯԤ饤ե줬
櫓ǤϤʤΤǤԤȯԤޤ
ȤϲǽǤơСϥեοʹԤ
뤳ȤǤ뤫⤷ޤ󤬡ɬפʪŪ­
ˤϡʪβʤιƭߤ뤳ȤϤǤ
ΤǤ

ǤϡʪϲβΤ

̲ߤȯ̤ʤ뤫ʤΤ

ǤϤʤΤǤʪΤϡפٶ뤬
¿뤫ʤΤǤĤޤꡢԾǥΤ줿֤ˤʤ
Ƥ뤫ʪ롢ȡơʪ뤫
ɬפ̲ߤ̤⾯ʤƺѤȡ

Ĥޤꡢ̲ߤ̤ʤǥեˤʤäƤΤǤϤʤ
ǥեǤ뤫̲ߤ̤ʤʤäƤΤǤ

줬ʤΤˡˤɤˤȤͤ
Ǥ

ʾǤǼǤʤͤΤˡĤ򤪼
ޤ礦

礿뻺ȤȤȵȤʤ褦ʸŪʼҲ񤬤ä
Ȥޤâɬפʲʾ¸ߤƤȡȤȵ
Ȥʤ褦ʼҲǤ顢βʾȤΤϡ
̤ʤ󤫤ǤäΤǤ礦

Ƥǯʪ˭ˤʤꡢޤ̤˳
᤮֤³ꤷƲ

פ˿٤ΤԾ˰졢ʤ˽Ƥޤä
ȡơʤ˽Τ顢ʬȤϵٻ
褦Ȥʤޤη̡Ȥȯ롢ȡǥեξ
Ǥ

ΤȤïǥե줫æѤ뤿ˤϤ̤
䤻ФȸäȤޤơºݤˤ̤䤷
ȡ

η̡ɤʤΤ

ʪβʤϾ徺Τ

夬뤳ȤϤޤ󡣲Τʤ顢⤬
ή̤Ƥ褦Ȥ⡢ʪϼΤƤۤ¸ߤ
Τǡ̤˹Ƥ㤦ɬפʤǤǤ顢
ߤǤ롢ȡ


ȤȤǡΥǥեæѤȻפΤǤС
̤ɤȤȤΤǤϤʤפä
򸺾뤫ʤȤȤǤ

פä뤫ɤϡɤϾԤ뤳
Ǥ顢ܤȤǤ뤳ȤϤȤС
︺뤫ϡäƼפΤԤ
̥ŪʿʤФʤȤȤʤΤ

ˤƤ⡢ˤϷкѤȤϤʤΤ
Ȼפäå򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ޥۤεԲ񸫤Ƥˤ
Ʋ⤷ޤϡΤȤεԲ񸫤ξܤ
ƤȯɽޤΤǡ⤦٥åƤߤ뤳Ȥˤ
Ȼפޤ

ե졼󡦥ƥ󥰤ѤƤ
ԤȤǤʤȤϤۤ礭ʤȤΤ
ޤۤȤ뤤ܶԤȤƤϡ
ե졼󡦥ƥ󥰤Ѥ礭
ͤȻפΤǤɤɸοͤꤷƤޤ
ʤΤȤˤĤơ⤦پܤ

̡ǣ˻äޤǣιǥե졼
󡦥ƥ󥰤ѤƤԤϡѹȥʥ
ĤꣵĤιϺѤƤʤ櫓ǤʤܶԤ
ե졼󡦥ƥ󥰤ѤƤʤȤ
⤢ޤդ˸СѹȥʥϤʤѤƤ
ΤȤ䤤Ω⤢뤫Ȼפޤե졼
ƥ󥰤ˤĤƤϡ֥ƥ󥰡פȤդ˳δ
ޤ꤬Ǥ伫Ȥϡºݤˤ϶ͻ򱿱Ĥ
ƤȤΣĤȤߤȻפäƤޤ

㤨С£ϣŤζͻȯɽʸ뤤ϥ
ե졼󡦥ݡȤߤȡʪ徺Ψ̣̾
ǤΡ֥åȡפʤŪפˤĤ򤷤Ƥ櫓
ǤϤޤ󡣸ߡѹ­ʪ徺ΨϡĶ
徺Ψ˾夬äƤƤޤʤȡ̾ϡǶ
夲ƤȤȤꤵޤ줬̾
ȤΡ֥åȡפȤդ˺ǤശǤ

ºݤˤϡĤϤƤ餺ष
ϤƴŪʶͻĶݻƤޤ

ʾ塢ȴ


ۤϲΤ

եɸѤƤȤСʪ徺ΨɸȤ
󥸤˼뤿˵Ūˤäȶ夲
ȹͤ줬ѹξǤ⡢ʵŪʱ
ϤäƤʤΤ

ȤСեɸѤ褦ȺѤޤȡ
ȤѤ櫓ǤϤʤΤȡ

Ǥ⡢ä鵿ͯƤޤ

뤳ȤѤʤΤǤС̤˺ѤƤ⤤ΤǤ
ʤȡ

ѤȤϷ褷ƸޤĤޤꡢեɸ
Ѥʤͳ̤ˤΤǤ

ϡɸߤʤ顢ãǤʤС
Ǥȼ餵ȤȤǤ

ƤҤɤˤޤ

ֺ٤ΥƥȤϤФäƤ͡

֤

֤󤸤ʤơ90ϼäƤۤ

֤š

֤㡢80ϡ

ִĥ뤱ɡš

ִĥȤäƤ⡢ŪɸΩƤʤȡš

֤Ǥš

90ä顢䤷Ƥ

֤Ȥʤä顩

֤ΤȤϡ򸺤餹

֤á


ۤϡ˥եɸѤƤ⡢¸
ʤΤǤΤʤС10ǯ֤ۤɤϤ
Ƥ̤ʤäǤʾ塢ɤϤ򤷤
餤Τȡ饤եɸѤʤΤǤ

ۤϡΤ褦˸Τ⤷ޤ

֤ޤǤηв¸ʤΤǤפȡ



ۤΩ⡢˵ǸƤڤʤ⡢Ȼפä
å򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ɤʪ徺Ƥȸޤ

㤨Сβʤ1920;夲줿
ȡ200CCΥϡ10ԡ19ߡˤ餫12
23ߤˡˤˤʤäȡ
ˡۻҤβʤ夬äƤ
롢Ȥ

ʡǤ

ϡǯβƤϱʤäˡȥӤμ
äȡΤǺǯ1κβʤϡ1ǯ
6夬äƤޤäȡ

ˤǡåȡ夬äΤʤʹʤ
ܤȤΤꤿͤϡGo to India.

ʳǤϡ֤ʤ󤫤ʤ夬äƤ褦Ǥ
ϡ12٤ȤơŴݤ1.5ξ徺
ȡޤ夬äȤäƤ⡢̤˶äۤɤΤȤϤʤ褦ʤ
Ǥš

Ǥʲʤξ徺طʤˤϡ߸Ĵ
ŸȤפäΤȤĤޤꡢʵ
Ƥ롢ȡ

ǡȤη̡1βʪؿϡǯƱ
8.6徺ȡ

ޤʪξ徺Ψ23٤ǤСʷǰ뤳
ȤʤȤꡢǥեξˤܤ餹
Ūʾ֤ˤ⸫櫓ǤήФ˥եΨ2˶
Ťȡ礤˷ǰ٤ȤȤˤʤޤ

ΤʤСե줬³СԤ
夲ԤʤƤ⡢˶徺ȷʵ
­ˤʤäƤޤǤ

ޥԥȤޤ󤫡

ĤǤѤƤꤷƲ
ܤΤ褦ʪ̣ǤΤǤС꤬
1ǤäƤ⡢ۤϴʤǤ礦˥
եΨ5˾徺Ȥˡ꤬1Ǥä顢
ɤפޤ

ǯʪ5夬äƤΤˡĤҼ1
2٤ʤȤΤǤС񤷤ܤβͤϡ
ǯ¼ŪܸꤷƤȤȤǤ顢
ιĤïʤȡơäƹĤ
ԤʤΤǡܤϹĤҤ夲ʤ
ʤ롢ȡĤޤꡢեˤʤСϾ徺롢ȡ
ϡԤ򲾤˰夲뤳ȤʤƤ⡢

ǡ䤬ȤС

Τ褦˥ɤǡƤޤǥե˲ФĤ褦
ȤˤʤСϱ󤫤餺ʹ¦ˤƶڤܤȤ
ȤǤΤʤС䥤ɤϤ
ʤäƤꡢ񡹤Ǻʤβʤ徺С
ʤ̤͢Ƥʹ¦ʪ徺
ʤǤ

椬ˤϡǥե줬ѶȤ˿İ
Ƥ͡ޤ󡢤͡ϡդǤ
櫓ǤϤʤ˥ǥեζ򿮤ƤΤȤȻ
ΤǤ椬Υǥե⡢ҤäȤͽ۰ʾ
᤯äƤޤǽΤǤ

ʤ˵ޤ˷ʵɤʤΤäơ

󡢷ʵɤʤäơƼפˤʤäƥǥե
äʤ餽˱ۤȤϤʤǤ礦
ˤʤʤƤ⥤եˤʤǽΤǤĤ
ꡢ䥤ɤʤɤ͢Ƥʲʤ⤯ʤС
椬ˤƤ⡢ʪξ徺⤿餵ȹͤ뤫
Ǥ

ơʵۤɲƤ櫓ǤʤΤˡ
Ψ㤨5ˤʤäȤˡȤϲȤΤǤ

֤äȤǥǥե줬äǤ

֤¼GDPĹΨϡؤɥѡȤǤ

ʻ夬󤫤餺뤫⤷ޤʪ夬
ȤΤǤϤޤ

κϤޤޤäʤƤ褦ʻˤʤ뤫⤷
ޤ

֤κäơˤʤäá



ɤΥϤäѤ¤ʡȻפäå򤪴ꤤ
ޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ƹθ礬夲졢ʲȿɽ
ƤޤͤϡɤΤ褦ˤǤ礦

褺ϡ椬ôäȿ

ַ̤ȤƱ߰¤ˤʤäƤꡢ椬кѤ˥ޥʥȤϻפ
Ƥʤ
ƹʪ徺³ƤʤΤǡΤ
ƹԤ줿

ȯԤ줿Τ19γյĸεԲ񸫤
ƤǤFRBΰ夲ȯɽΤϡ
ϻ֤18θ4ȾǡܤǤīΥ˥塼Ǵ
󤸤Ƥޤ顢äˤäƤ


ˤƤϡ

Υȡ̳ѰդΤǤ礦Ȥ⤴ʬΡš

褷ƻ̳ѰդΤȤϻפޤ󡣻̳Ѱդ
ΤǤСߤϤʤƤ⡢ͤùߤ褦
ȤʤǤ礦

̤ˡ̳ѰդȤ˸ɬפϤʤΤǤ⤦
ʹƤƤͤǼ뤬褦ʥȤǤʤ
ΤǤ礦

߰¤ˤʤäƤơ椬кѤ˥ޥʥˤʤäƤȤϻ
ʤʤơ߰¤Ͼ˥륫ȤФꡣä
㤦ΤǤϤʤǤ礦⤷߰¤⤿餹֤륫
ȤΤǤʤСΰ夲ɤɤäƤ
ȤȤˤʤΤǤ

ơΰ夲Ԥ줿ΤϡꥫǤʪ
ξ徺³Ƥ뤷šʤơ

ɤƤʥȤǤʤäΤǤ礦ϡ
褺ˡƹ񤬤ʿʷкѾˤʤǡ
ΰ夲ԤȤʤͽۤˤƤʤäǤ

ܤξˤϡܶԤ˰Ϥ򤫤˶ͻ¤
褦ȤƤΤˡšȡ

ǤϡиάŬݤҤ٤Сʹ褫äȻפ
ΤǤ
ǤϡFRBȤϡθ夲ɤ
ΤǤ礦

Ϣͻ٤ﲽΰġĤޤ֤λ
뤳ȡ˸ниάΰĤǤꡢ褷ƷкѸ
ѹΤǤʤСͻžǤʤȡ

FRBϡǤ礬夲Ƥ⡢ȷפ
Ȥζôä櫓ǤϤʤȡ
ơˤĤ
ƤϡμԤ⡢ΤȤȤ櫓ǤΤʤ顢
ͻ񤬡ԤͻθˤʤäƤ뤳ȤϤʤ
ͤƤ顢ȡ

ǡFRBιͤܲ褦˥ɥ꡼NYϢ
ۤ櫓Ǥ

"We made a very small technical change" (by 
raising the discount rate).

 ֡ʸΰ夲ϡ˵Ūѹ򤷤˲᤮ʤ
פȡ

"The action yesterday was really an action about
the improvement in banks"

ֺ֤ϡԤξȤˤΤ

ɥ꡼ۤϼΤ褦ˤäƤޤ

"There is just no inflation pressure in the U.S., so
our focus has to be on growth and jobs,"

ƹˤƤϡե찵ϤäƤʤ
ϡкĹȸѤȤȤˤʤΤ

졢椬äǧȰ㤦ȤҤ٤Ƥ褦
Ǥ
ꥫϡե찵ϤʤɤäƤʤȡ

ơȯɽˤʤä1ξʪؿʥ
ˤϡ0.1㲼ˤʤäƤΤȤ

ޤϤȤơ

θΰ夲򡢤ɤΤ褦˲᤹٤
ͻѹ̣ΤǤϤʤΤ

FRBϡͻѹ̣ΤǤϤʤȸ
Ǥ⡢ϡˤꤱǤϤʤΤǤ礦㤨С
Υ϶ˤư۾֤Ǥȹͤ
1٤ޤǰ夲Ƥ⡢϶ΰ夲Ȥ
ﲽΰĤǤȼĥʤС1Ķ
ޤǤϡͻ᤿ȤˤϤʤʤǤ

ˡޤ1οˤä夲
Ϥ᤿Ȥˤ⡢褷ƶͻΤǤϤʤΤ
äƤΤǤȤͤΤǤСθ
ΰ夲ϡΰ夲ϤޤͽǤ
򤷤褵Ǥ

Сʥ󥭵ĹεĹǤäƤ򤷤
ФǤСʥ󥭻ˤϡХ֥ȯǤ
ΤǤϤʤȡ
ΤȤ⤢äơХ֥κȯ򶲤줿
FRBХ֥κȯɤ˽иάν
ǧľƤȤȤǤϤʤǤ礦


ΰ夲ޤΤǤϤʤȻפ
򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

 

Υȥ꡼ϤƤʥ֥åޡɲ

βꤷƵ񤭤ޤ顢š
礬夲ƤޤޤǤϤʤ褦
Ǥ͡䤬פä櫓Ǥ

ָ硩

פä¿Ȼפޤ

ΤˡϸȤʸ褯ʹäƤΤ
ȡǶǤϡʸդؤʹʤȡ

¼夵礬ɤäȸʡۤϡĤƤ
äΤǤ

ָȤΤϡ¢ꤵפȡ

2006ǯ7䤬ȤθդǤ
ĻפƤǤ礦

ơ줫1ǯۤɷвᤷ2007ǯ8ѥХå
ͻȯΤǤ

ȤʤȤʤšFRBǤФΤ褺ϡ
ΰäΤǤ褷Ǥեǥե
졼ȤΰǤϤʤΰǤäȡ

ơFRBϡեǥե󥺡졼ȤǤϤʤ
夲뤳ȤꤷΤǤ

θΰ夲ϲ̣ΤǤ礦ˤäơ
줿ꡢͻѹ뤳ȤˤʤΤǤ

FRBϡˤĤƼΤ褦˸äƤޤ

The Federal Reserve Board on Thursday announced that
in light of continued improvement in financial market
conditions it had unanimously approved several
modifications to the terms of its discount window lending
programs.

ϢˮϲͻԾξβ˴դߡ
ͻξ뤳ȤפǾǧȯɽ

Like the closure of a number of extraordinary credit
programs earlier this month, these changes are intended
as a further normalization of the Federal Reserve's lending
facilities. The modifications are not expected to lead to 
tighter financial conditions for households and businesses
and do not signal any change in the outlook for the
economy or for monetary policy, which remains about as it
was at the January meeting of the Federal Open Market
Committee (FOMC). At that meeting, the Committee left 
its target range for the federal funds rate at 0 to 1/4
percent and said it anticipates that economic conditions
are likely to warrant exceptionally low levels of the
federal funds rate for an extended period.

ֺΰͻץ饰νλƱͤˡѹϡϢ
ͻ٤ﲽŪȤΤǤ롣ͻ
ϡȷפȤФͻ򸷤ΤȤͽۤƤ
餺ޤкѸ̤ͻθ̤Ѳ򼨺ΤǤ
ʤͻˤĤƤϡ1θԾѰFOMCˤβǷ
ꤵ줿ȤΤޤޤǤ롣1βǡƱѰϡեǥ
ե󥺡졼ȤͶƳɸ00.25˿֤ȤȤкѾ
ϡ㤤եǥե󥺡졼ȤĹ֤ˤ
ǤȽҤ٤

The changes to the discount window facilities include
Board approval of requests by the boards of directors of
the 12 Federal Reserve Banks to increase the primary
credit rate (generally referred to as the discount rate)
from 1/2 percent to 3/4 percent. This action is effective on
February 19.

ָͻ˴ؤѹˤϡ12϶Ϣˤä
줿ǧबޤޤ롣ϡϢͻζʰŪ˸
ȸƤФˤ0.5󤫤0.75ذ夲뤳ȤǤ롣
ϡ219ܹԤ

In addition, the Board announced that, effective on
March 18, the typical maximum maturity for primary credit
loans will be shortened to overnight. Primary credit is
provided by Reserve Banks on a fully secured basis to
depository institutions that are in generally sound
condition as a backup source of funds. Finally, the Board
announced that it had raised the minimum bid rate for the
Term Auction Facility (TAF) by 1/4 percentage point to 1/2
percent. The final TAF auction will be on March 8, 2010.

ֲäơϡ318ϢͻκĹ֤򥪡Сʥ
Ȥû̲뤳ȤȯɽϢͻϡϢ䤬ʬôݤȤ뤳
Ȥ˷¶ͻؤ˻ٱȤƶͿͻǤ롣
ǸˡϡʪͻTAF)κӥåɥ졼Ȥ0.25
0.5ذ夲뤳ȤȯɽǸTAFϡ2010ǯ3
8˹Ԥ

Easing the terms of primary credit was one of the
Federal Reserve's first responses to the financial crisis.
On August 17, 2007, the Federal Reserve reduced the
spread of the primary credit rate over the FOMC's target
for the federal funds rate to 1/2 percentage point, from 1
percentage point, and lengthened the typical maximum
maturity from overnight to 30 days. On December 12,
2007, the Federal Reserve created the TAF to further
improve the access of depository institutions to term
funding. On March 16, 2008, the Federal Reserve lowered
the spread of the primary credit rate over the target
federal funds rate to 1/4 percentage point and extended
the maximum maturity of primary credit loans to 90 days.

ָΰϡͻФϢκǽ֤ΰ
Ǥä2007ǯ817Ϣϡեǥե󥺡졼ȤͶƳ
ɸͤФͻξ褻ʬ򤽤ޤǤ1ݥȤ
0.5ݥȤ˰ơĹ֤򥪡СʥȤ30
ؤĹ2007ǯ1212Ϣ¶ͻؤΥ
ʪؤΥ뤿TAFߤ2008ǯ316
Ϣϡեǥե󥺡졼ȤФξ褻ʬ
0.25ˤޤǰͻκĹ֤90ޤǤ˱Ĺ

Subsequently, in response to improving conditions in
wholesale funding markets, on June 25, 2009, the Federal
Reserve initiated a gradual reduction in TAF auction sizes.
As announced on November 17, 2009, and implemented
on January 14, 2010, the Federal Reserve began the
process of normalizing the terms on primary credit by
reducing the typical maximum maturity to 28 days.

֤θ塢ͻƱΤλԾβƧޤơ2009ǯ625
ϢϡTAFϤ˽̾뤳ȤϤ᤿ơ2009
ǯ1117ȯɽ2010ǯ114˼¹ԤȤǤ뤬Ϣ
ϡͻ֤Ĺ28ޤǤû̲뤳ȤˤäƸͻ
ﲽץ˾Ф

The increase in the discount rate announced Thursday
widens the spread between the primary credit rate and
the top of the FOMC's 0 to 1/4 percent target range for
the federal funds rate to 1/2 percentage point. The
increase in the spread and reduction in maximum maturity
will encourage depository institutions to rely on private 
funding markets for short-term credit and to use the
Federal Reserve's primary credit facility only as a backup
source of funds. The Federal Reserve will assess over time
whether further increases in the spread are appropriate in
view of experience with the 1/2 percentage point spread.

ȯɽ줿ΰ夲ϡ00.25ȤƤ
FOMCΥեǥե󥺡졼ȤͶƳɸͤФ褻ʬ
0.5ޤdz礹ΤǤ롣ξ褻ʬγȴ֤û̲
ϡ¶ͻؤֻ̱ԾѤ褦ˤʤꡢơϢ
θͻϡ䴰ΤȤѤ뤳Ȥ¥
Ǥ롣Ϣϡ塢ʤ褻γ礬ŬǤ뤫ɤ
򡢺0.5ؤΰ夲μӤƧޤƸƤƤȤˤ

 

ǡǤ礦

θΰ夲ϡ褷ΰ夲̣
ΤǤϤʤȸäƤޤ

Τˡեǥե󥺥졼ȤͶƳɸͤϡ00.25Ѥ
äƤޤ󡣤Ǥΰ˸ΰ
Ԥ줿ȤפФʤСơΤȤϢ䤬Ψľǧ
Ƥ뤳Ȥ餹С塢󤯤ʤϰ夲
ΤǤϤʤǤ礦


ƹ񤬽иάꤷƤ⡢ܤξˤϡȤ
夲ˤȿФȻפå򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

12627˳Ť줿FOMCεĻϿޤ

Ĥη̤ϡΤΤ褦˥³ȤΤǤ
ä櫓ǤΤȤ1ͤΥСηȿФȤƤ
ޤ

ϤĹϤäưĶ褦ʾˤϤ
ʤäƤƤ롢ȡȿɼꤸΤϡ󥶥ƥϢΥȡ
ۡ˥ۡ

ϡºݡɤΤ褦ʤȤȯƤΤǤ礦

ĻϿȴ

Mr. Hoenig dissented because he believed it was no
longer advisable to indicate that economic and financial
conditions were likely to "warrant exceptionally low levels
of the federal funds rate for an extended period."

ַкѵڤӶͻξϡĶΥեǥե󥺥졼ȤĹ
Ϥä٤Ȥˤʤꤽɽ뤳ȤϤϤŬǤϤ
Ȥͳǡۡ˥ȿФ

In recent months, economic and financial conditions
improved steadily, and Mr. Hoenig was concerned that,
under these improving conditions, maintaining short-term
interest rates near zero for an extended period of time
would lay the groundwork for future financial imbalances
and risk an increase in inflation expectations.

֤ˤơкѵڤӶͻξ¤˲ۡ˥
ϡƲˤơûĹ֤Ϥäƥ
˶ᤤ˰ݻȤȤϡζͻ̤ǤԶѹդ
ƥեͽۡʴԡˤ򶯲ꥹ뤳ȤǰƤ

Accordingly, Mr. Hoenig believed that it would be more 
appropriate for the Committee to express an expectation 
that the federal funds rate would be low for some time
--rather than exceptionally low for an extended period.

ֽäơۡ˥ϡFOMCեǥե󥺥졼ȤĹ֤
Ϥäư㤤ˤȤ⡢äδ֡㤤ˤ
ȤͽۤɽŬڤǤȿ

Such a change in communication would provide the
Committee flexibility to begin raising rates modestly. He
further believed that moving to a modestly higher federal
funds rate soon would lower the risks of longer-run
imbalances and an increase in long-run inflation
expectations, while continuing to provide needed support
to the economic recovery.

֤Τ褦ɽѹ뤳ȤˤäFOMCϡˤ䤫˰
夲Ϥ뤳ȤǤ䤹ʤ롣ۡ˥ϡˡ®䤫
ΰ夲ž뤳ȤϡʵΤɬפʻٱ³
ԤĤġĹŪԶѹդĹŪʥեͽۡʴԡˤä
ꥹ򸺾ȿ

ƹμΨϸߡ19.7󡣤⡢FOMCβ礬
Ť줿ǤϤޤ10ˤä櫓ǤΤ褦˰
Ψ⤤ˤꡢơߤޤꤹȤߤƤΤˡ
Υۡ˥ϡΰ夲λᤤΤǤϤʤ
ƤΤǤ

줬ܤνʤ顢餯ۡ˥ϥХå󥰤Ȥ

ϼʬοȤƲȽҤ٤Ƥ櫓Ǥ
ФȡɤȤФǤϤʤȡ

ܤϡफؤ֤ȤϤʤΤǤ礦

ܤξˤϡĶФȤäơ
˷ǰ뤳ȤϤʤΤǤ礦


뤳Ȥϡ夲Сڶ򤷤ƤȤ¶Ԥ
νžȤȤǤĤޤꡢĶϡԤ
ϤˤʤäƤ롢ȡ

̱ޤλҤɤٵκΰĤϡȷפιϤ뤿
ȤȤǤϤʤäΤǤϤʤǤ礦

ǤС̳꤬ˤʤ밵Ϥ򤫤ΤϡҤɤ
ȤݤƤʤ褦ʵΤǤ

 

ƹηʵΥԡɤϡͽۤޤ뤫Ȼפå
򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ƺ̳ʤƹĤͭȯɽޤˤ
Ⱥǯ12Ǥͭ7554ɥȡ11ˤ
342ɥ븺ΤФܤͭϡ11ˤ
115ɥä7688ɥȤʤꡢ̤žȤ


ƹĤͭ

񡡡ܡ
2009ǯ
17396ɥ롡6348ɥ
27442ɥ롡6619ɥ
37679ɥ롡6867ɥ
47635ɥ롡6859ɥ
58015ɥ롡6772ɥ
67764ɥ롡7112ɥ
78005ɥ롡7239ɥ
87971ɥ롡7306ɥ
97989ɥ롡7510ɥ
10 7989ɥ롡7459ɥ
11 7896ɥ롡7573ɥ
12 7554ɥ롡7688ɥ

ƺ̳ʡ

 ǡǤ礦

ǯ1λǤϡܤ1000ɥۤɾ
ƤΤˡ1ǯʤ֤ܤ100ɥʾ
̤ˡ

ͭϡ2009ǯ5ԡǡθ塢ۤ
ƤʤäΤǯ11ä12˥
ǤͻҤޤ

ΡϲͤƤΤǤ礦

ǰ໤ƶƤΤ

̱ڤ夲ȸΤʤΤ

Google ꤬ƶƤΤ

Ѥؤ͢ФʤΤ

ХΤ饤ޤȲ񤦤ΤʤΤ


顢ʤȸСʤȡ

Ϥȷ׻򤷤ƤΤǤƹΤ
뤳ȤʤȤƤ⡢񼫿Ȥ»ˤʤ뤳ȤϤ
󡣤ĤޤꡢƹĤ򤤤äڤ̤˽Фơƹ
β˽䡢ɥ˽򾷤ͤ褦ʤȤϤʤΤ
ʤȤ򤹤񼫿Ȥ»򤳤ƤޤǤ

ФȤơΤޤ̤ͭƤƤΤȡƹ
ο͵㲼桢̤ͭ³褦ʤ
ȤˤʤС񤬥ХФ̤ˤʤäƤޤޤ
֤򤱤ȡ

ȤȤǡΩʤ褦˾ĥݥĴ򤹤뤳
ȤϤ롢ȡơƱˡƹܤ˵
ʤȤСọ̇ǡ̵ΰϤ򤫤
Ȥ⤢롢ȡ

ȤǤϤʤǤ礦

ˤ⡢˥ܥ饿ƥޤΤǤϤʤǤ

ܤϡɤΤǤ礦͡


ưϡդ⡢Ȼפäå򤪴ꤤ

↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ΥڡΥȥåץ