For the just the second time in its century-old history, the Federal Reserve has engaged in an attempt actively to twist the US yield curve to a flatter shape. This “operation twist” will have the most powerful effect if it marks a beginning and not an end to how far the Fed is willing to go down the route of unconventional monetary measures to rescue the recovery.
美聯儲(Fed)已投入積極行動扭轉美國收益率曲線,以求將其壓得更平,這在該機構一個世紀的歷史上只是第二次。美聯儲愿意拿出多大力度的非常規貨幣政策措施來挽救經濟復蘇?在這個問題上,如果“扭轉操作”標志著一個起點而非終點,那么這一行動將產生最強大的效果。
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