美国劳工统计局周五公布，上个月雇主新增就业岗位16.5万个，是经济学家预期值的两倍多，失业率微降至4.1%。
A stronger-than-expected US jobs report bolstered the case for further Federal Reserve interest rate hikes, which had lost some momentum amid a post-election stock market selloff and growing fears that weaker AI-driven demand could undercut the economy.
平均时薪同比增长3.1%，不足以跟上消费者物价3.7%的涨幅，后者正吞噬典型薪资更大比例的购买力。
Employers added 165,000 jobs last month, more than twice what economists had expected, the Bureau of Labor Statistics said Friday, and the unemployment rate ticked down to 4.1 percent.
美国联邦储备委员会（美联储）上个月维持政策利率不变后，美联储主席凯文·沃什表示，决策者将关注“数据的累积”，以帮助决定是否需要进一步收紧货币政策。
Average hourly wages gained 3.1 percent from a year earlier, not enough to keep up with a 3.7 percent rise in consumer prices that is taking a bigger chunk of the typical paycheck's purchasing power.
对旧金山联储主席玛丽·戴利而言，最新的月度就业报告似乎在“是否需要进一步加息”这一栏里打了一个决定性的勾。
After the US central bank left its policy rate on hold last month, Fed Chairman Kevin Warsh said policymakers would be watching for "the accumulation of data" to help decide whether more monetary policy tightening would be needed.
“人们正处于这样一个境地：他们说‘通胀——我在各方面都过得不错，只是跟不上通胀’，所以这必须是我们的头号任务，而我们拥有强劲的劳动力市场，这给了我们余地，真正把这项工作做完，”戴利在接受CNBC采访时表示。
For San Francisco Fed President Mary Daly, the latest monthly jobs report appeared to put a definitive tick in the "yes" column.
“我预期我们将不得不进一步收紧政策，”戴利说。她今年不是联邦公开市场委员会（FOMC）的投票成员，但通常表达的观点与多数派相似。
"People are just at the point where they're — they say 'Inflation — I'm doing well in everything, except I can't keep up with inflation,' so that has to be our number one priority, and the fact that we have a solid labor market gives us the latitude, really, to just get that job done," Daly said in an interview on CNBC.
她指出“世界在许多方面似乎都如此动荡”，并补充说：“这些动荡是你必须考虑的因素，你需要收集更多信息，在不确定确切需要前往何方时，要深思熟虑但更循序渐进地推进。但很可能需要做得更多，当然我们已做好准备——我已做好准备——如果经济需要，我们将采取行动。”
"My expectation is, we're going to have to tighten policy further," said Daly, who is not a voting member of the Fed's policy committee this year but typically voices views similar to the majority view.
圣路易斯联储主席阿尔贝托·穆萨莱姆周五在圣路易斯的一个市民活动上发言时表示，通胀仍然是他与辖区内企业交谈时的首要关切。
Noting "how volatile the world seems to be in many ways," she added, "those volatilities are something that you have to take into account, collect more information, and be deliberate but more gradual in how you get there when you don't know exactly where you're going to need to head. But more is likely to be needed and certainly we're prepared — I'm prepared — to do that, if that's what the economy calls for." In comments at a St. Louis civic event Friday, St. Louis Fed President Alberto Musalem said inflation remained the top concern in his conversations with businesses in his district.
穆萨莱姆曾主张进一步加息，他说：“通胀是一种累退税，一种扭曲性税收。”
"Inflation is a regressive tax, a distortionary tax," said Musalem, who has advocated for further rate increases.
“我们能为增长和就业做的最好的事，就是及时将通胀降下来。”他没有提及近期股市因对人工智能繁荣的步伐和可持续性产生新的疑虑而下跌的情况，但表示目前他认为这一新兴行业正通过对铜等大宗商品的需求推高通胀。
"The best thing we can do for growth and employment is bring inflation back down on a timely basis." He did not address a recent swoon in stock markets driven lower by new doubts about the pace and sustainability of the artificial intelligence boom, but said for now he feels the emerging industry is feeding higher inflation through demand for commodities such as copper.
穆萨莱姆说，即使这在未来能带来利润和生产率提升，“我们需要为当下的经济制定货币政策，而不是为五年后可能的经济制定政策”，基于此，目前至少人工智能投资“将继续助推通胀”。
Even if that pays off in future profit and productivity, "we need to make monetary policy for the economy of the day, not what it may be five years from now," Musalem said, and on that basis, for now at least, AI investment "will continue to contribute to inflation." Daly said she feels that technology stock prices, headed for a fourth straight weekly decline despite a bounce Friday, do not reflect any wholesale rejection of the premise that data centers and cloud computing are important.
戴利表示，她认为科技股股价尽管周五反弹，但仍将迎来连续第四周下跌，这并不反映市场对数据中心和云计算重要性这一前提的全盘否定。
"When you step back from the volatility, which I know is painful for people in the middle of it, but ultimately this is the kind of rebalancing you would hope for if you want an orderly outcome" while investors recalibrate expectations for the pace of AI-driven growth, she said.
她说：“如果你从动荡中抽身出来——我知道身处其中的人很痛苦——但归根结底，这就是你在投资者重新校准对人工智能驱动增长步伐的预期时，如果想要一个有序的结果，所希望看到的那种再平衡。”
The Nasdaq Composite index fell by the most in 19 months on Thursday as the extent of the political shift in the US became apparent after Democrats won control of Congress and emerged victorious in a clutch of gubernatorial races in the midterm elections on Tuesday.
纳斯达克综合指数周四暴跌，创下19个月来最大单日跌幅，此前民主党在周二的中期选举中赢得国会控制权，并在多场州长选举中获胜，美国政治版图发生重大变化的程度变得显而易见。
Several of the victorious Democratic gubernatorial candidates ran on promises to rein in data center construction, and Democratic congressional leaders are planning a raft of new AI legislation.
几位当选的民主党州长候选人曾承诺限制数据中心建设，而民主党国会领袖正计划推出一系列新的人工智能立法。
The jitters over AI also prompted traders to back away from what had been big bets on a Fed rate hike next month, figuring that a slowdown in AI-related demand could cool economic growth and ease inflationary pressures, making further monetary policy tightening a less urgent matter.
对人工智能的担忧也促使交易员撤回此前对美联储下月加息的大量押注，他们推测，人工智能相关需求放缓可能会降低经济增长并缓解通胀压力，从而使进一步收紧货币政策的紧迫性降低。然而，最新就业报告的发布再次让美联储加息成为焦点。
The release of the latest employment report, however, put a Fed rate hike back in focus.
市场定价显示，美联储在12月8日至9日会议上加息25个基点的概率约为80%，高于周四的约67%。
Markets were pricing about an 80 percent chance of a quarter-percentage-point policy rate increase at the Fed's December 8-9 meeting, up from about 67 percent Thursday.
交易员现在还预计，下一次也是最后一次加息将提前至4月而非6月到来，因为央行正在对抗已持续五年多高于2%目标的通胀。
Traders now also see the next and final rate increase coming earlier, in April instead of June, as the central bank battles inflation that has been running above its 2 percent target for more than five years.
“在上周稳健的GDP和消费支出数据之后，这是一份非常强劲的劳动力市场报告，强化了经济的积极势头，”惠誉评级分析师Olu Sonola在报告发布后写道。
"This is a very strong labor market report on the heels of solid GDP and consumer spending data last week, reinforcing the economy's positive momentum," Olu Sonola, an analyst at Fitch Ratings, wrote after the report.
Sonola表示，近期对人工智能的担忧对这一前景构成风险，“但目前经济仍保持稳健立足点。劳动力市场的韧性使美联储继续聚焦通胀，并推动政策辩论进一步倾向于12月加息。”
Recent concern over AI poses a risk to that outlook, Sonola said, "but for now the economy remains on firm footing. The labor market's resilience keeps the Fed focused on inflation and pushes the policy debate further toward a December rate hike."