昨日，美联储主席耶伦在华盛顿众议院的证词发言中表示，由于对于全球金融市场面临风险的担忧，加息可能会放缓，仍然强调”循序渐进”的字眼。
全球股市均呈现低位反弹，主要是由于暂时解除了加息放缓的言辞使得投资者减少对于债务危机的担忧。同时由于加息的羁绊是在于经济形势不容乐观所致，货币市场再度出现避险性交易，日元继续走高，原油价格再度跳水。
国际金融形势不利于美国经济增长
耶伦在证词发言中表示目前全球金融形势对于美国经济增长出现几方面的不利因素：一是股市大幅下滑，二是风险投资者的高借贷成本，三是美元的持续升值。这三个方面的情况如果持续不变，则有可能进而影响到经济行为与劳动力市场。
同时，她也提及对于中国经济形势的担忧，表示虽然中国经济增长放缓并不是急速下行，但人民币贬值所带来的动荡导致了全球金融市场的不确定性。而产能过剩与原油等大宗商品价格的低迷使得依赖大宗商品出口的国家尤其是新兴市场经济面临压力。同时美国也会承受一样的压力而难以顺利实现政策收紧。
“Financial conditions in the United States have recently become less supportive of growth, with declines in broad measures of equity prices, higher borrowing rates for riskier borrowers, and a further appreciation of the dollar.”
“Most notably, although recent economic indicators do not suggest a sharp slowdown in Chinese growth, declines in the foreign exchange value of the renminbi have intensified uncertainty about China's exchange rate policy and the prospects for its economy.” – Janet Yellen,华盛顿，2月10日
MSCI 新兴市场指数走势
数据来源：MSCI
加息依旧需要”循序渐进”
耶伦再次重申了1月份美国公开市场联邦基金委员会（FOMC）会议的言辞，表示“经济条件将使得联邦基金率只能循序渐进的进行”。她指出美国2015年经济增长放缓至估值1.75%的速度，尤其受美元走强而抑制出口的影响。
但同时也表示，由于燃油价格的低廉与劳动力市场的持续改善，居民消费水平出现提高。美联储主席耶伦强调通胀率将最终回到2%的水平。她将目前基于金融市场形势而判定通胀率下滑归因于技术性原因，认为以调查方法做出的通胀率预期虽然较低但在“合理的范围内平稳”。
美元与美股再现下行，市场避险情绪再度升温
由于美联储对于加息态度言辞偏软，美元继近日的趋势再度下滑，美元指数由最高96.72，下跌至最低95.85；日元作为避险性货币涨幅最大，美元兑日元由最高115.26一度跌至最低113.32；黄金回撤后出现反弹，昨日最低触及1181美元附近后迅速重拾涨势一度触及最高1195附近。
美元指数自1月份以来呈现连跌
数据来源：彭博社
美国各大股指冲高后回落，主要是由于耶伦的证词加大投资者对于经济前景担忧所致，截至北京时间晨时4点43分，美国道琼斯指数下跌0.59%，美国标普指数涨幅收窄至0.17%。纽约商品交易所西德克萨斯原油期货价格再度跳水，跌幅达1.11%至27.60附近。
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