Little インフレーション 圧力 on Fed to 速度(を上げる） up 率 引き上げ（る）
The US 連邦の Reserve 持つ／拘留するs its final 政策 会合 this week 直面するing a conundrum most countries would love to have: slowly 加速するing 経済成長 with no 調印する of インフレーション.
The good 調印するs in the US economy ironically make it harder for the Fed to move closer to what it knows it must do sooner rather than later: begin 解除するing the （判断の）基準 連邦の 基金s 利益／興味 率 from the 無 level, where it has been for six years now.
予期 of the move has riveted markets for two years, feeding into volatility in 在庫／株s and 社債s and sharp 転換s in 通貨 markets.
連邦の Reserve 議長，司会を務める Janet Yellen leaves after speaking at the 連邦の Reserve in Washington, DC, December 2, 2014 ?Saul Loeb (AFP/とじ込み／提出する)
The two-day 会合 beginning Tuesday will 量 to an update to markets about where the Fed stands on its 示すd 計画（する） to begin raising 率s around 中央の-2015.
No major 政策 告示s are 推定する／予想するd. The 連邦の Open Market 委員会 (FOMC) could make a modest change in its messaging 政策 on the 結局の 率 引き上げ（る）.
Over the past year, it has 繰り返して said that a Fed 基金s 増加する would only come a "かなりの time" after the end of the quantitative 緩和 program, which was 負傷させる up in October.
That language could be dropped for an even more opaque qualifier that would give it more 柔軟性, to either move quickly if growth and prices 選ぶ up 突然に, or 持つ／拘留する off 無期限に／不明確に if growth 立ち往生させるs.
To this end, one Fed 公式の／役人 has 示唆するd the FOMC just say it will be "患者."
"The Fed is 努力する／競うing to 避ける any unpleasant market surprises," said IHS 全世界の Insight in an 分析 Friday.
The central 銀行業者s will need patience to decide what 正確に／まさに the data is telling them.
US 経済成長 over the past two ４半期/4分の1s has been the strongest since 2003. The fourth ４半期/4分の1 looks strong 同様に.
November 職業 創造 stunned with a high 321,000 new 職業s, 強調するing the sharp 1.2-point 落ちる in 失業 over the past year to 5.8 パーセント.
小売 sales in November, the kickoff to the holiday shopping season, were strong, up 5.1 パーセント from a year earlier.
That 傾向 is 推定する／予想するd to even 強化する with the sharp 落ちる in ガソリン prices, enough to 追加する a $700 or more 年次の 上げる to the 普通の／平均（する） family's spending 力／強力にする.
"小売 sales in the fourth ４半期/4分の1 are so far running 1.0 パーセント higher than the third ４半期/4分の1 on 普通の／平均（する）, 示唆するing 消費者 spending will help 運動 yet another healthy GDP 増加する in the final ４半期/4分の1 of the year," said Chris Williamson of Markit.
But after having helped bring the 失業率 負かす／撃墜する, the FOMC wants to see インフレーション up around 2.0 パーセント to 確認する the 経済的な 回復. So far, prices are not 協力するing.
最近の data shows deflationary 圧力s, partly driven by the 落ちる in oil and other 物価s, and partly by the slower growth in 中国, Europe and Japan.
A 重要な インフレーション 指示する人（物）, the 生産者 price 索引, showed a 0.2 パーセント 落ちる in November. The main 推論する／理由 was the 法外な 減少（する） in energy prices, which the Fed does not 重さを計る much when 査定する／（税金などを）課すing インフレーション.
But 卸売物価s stripping out energy also fell, for the second straight month, by 0.1 パーセント.
And year-on-year 全体にわたる 生産者 prices were up 1.4 パーセント, the slowest 率 of 年次の 増加する since January.
Without 圧力 from インフレーション, the Fed has little need to 前進する 計画（する）s for a 率 増加する.
The one 重要な variable in 焦点（を合わせる） is 給料. 支払う／賃金 for Americans has gone nowhere in the 回復.
An uptick in 行う growth would more 明確に signal 会社／堅い growth and that the economy would not を煩う higher 利益／興味 率s.
広範囲にわたって 公式文書，認めるd in November's 職業s market data was an uptick in hourly 給料 that, if 支えるd for a ４半期/4分の1 or more, would likely be seen as proof of that strength.
But without that 確定／確認 for the moment, 分析家s 推定する／予想する the FOMC to remain 患者, a nd are sticking to the 存在するing 予測（する）s.
"やめる a few Fed 公式の／役人s are looking at the June 2015 会合 as the appropriate time for the 初期の 率 引き上げ（る）, and we 同意する that this is the most likely シナリオ," said IHS.
