依据1978年公布的联邦储藏法，美联储必需实现全民失业和低通货收缩率。但是这两个目的是互相矛盾的。
The Fed has to pursue full employment and low inflation by the Federal Reserve Act of 1978, but these two objectives are conflicting.
弗里德曼：形势是这样的：降低通货膨胀率的唯一方法是收紧银根，而这必然引起暂时的衰退。
MILTON FRIEDMAN: the situation was this: the only way you could get the inflation down was by having monetary contraction. There was no way you could do that without having a temporary recession.
分析是基于所谓的泰勒规则法，即根据通货膨胀率和失业率，估计出一个适当的利率…
The analysis was based on a so-called Taylor-rule approach that estimates an appropriate interest rate based on unemployment and inflation.
通过检验当期整体通货膨胀率与前一期核心通货膨胀率的关系，表明有限影响估计法计算的核心通货膨胀率具有较好的预测通货膨胀的能力。
Through test the relationship of the current CPI and the Preliminary core inflation impact that limited-influence estimator's core inflation has good ability to forecast inflation.
通过检验当期整体通货膨胀率与前一期核心通货膨胀率的关系，表明有限影响估计法计算的核心通货膨胀率具有较好的预测通货膨胀的能力。
Through test the relationship of the current CPI and the Preliminary core inflation impact that limited-influence estimator's core inflation has good ability to forecast inflation.
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