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美联储威廉姆斯:我们仍需关注有效下限。
Sou Hu Cai Jing· 2025-11-06 16:54
来源:滚动播报 美联储威廉姆斯:我们仍需关注有效下限。 ...
鲍威尔的政治勇气
Sou Hu Cai Jing· 2025-09-17 16:51
Core Viewpoint - The article emphasizes the political courage and analytical ability of Federal Reserve Chairman Jerome Powell, particularly in the context of his recent speech at the Jackson Hole Economic Policy Symposium, amidst significant political pressure [1][2][5] Group 1: Monetary Policy Framework - Powell highlighted the complexity of monetary policy decision-making, focusing on the dual mandate of price stability and maximum employment, which can create challenges for the central bank [3][4] - The updated framework no longer prioritizes the effective lower bound as a key consideration and has adjusted the average inflation targeting strategy, reaffirming the 2% inflation target as most aligned with the dual mandate [4] Group 2: Historical Context and Comparisons - Powell draws inspiration from past Federal Reserve leaders like Paul Volcker and Alan Greenspan, who faced significant public and political pressures while maintaining their commitment to sound monetary policy [2][5] - The article compares Powell's current challenges to those faced by Volcker during the high inflation of the 1970s and Greenspan's management of low inflation in the post-Volcker era, highlighting the ongoing need for courage and independence in the Federal Reserve's operations [2][3]