It is understandable, given the number of times green shoots have been seen since the downturn began in December 2007, that there might be some scepticism about claims the recovery is finally under way. To me the question is what does it imply for policy? Does it mean we can be more relaxed about the demands for budget cuts emanating from fiscal conservatives? Or that the US Federal Reserve should start paying more attention to inflation, and begin contemplating raising interest rates? Even if this is not one of the many green shoots that soon turn brown, the economy will almost certainly need more stimulus if it is to return to full employment any time soon.
鑒于自2007年12月經(jīng)濟(jì)開始陷入低迷以來屢次出現(xiàn)的“綠芽”，人們對于經(jīng)濟(jì)終于開始復(fù)蘇的說法可能存有一些疑慮，這是可以理解的。在我看來，關(guān)鍵在于這對政策來說意味著什么。這是否意味著我們對財政保守主義者提出的削減預(yù)算要求不必那么緊張了？或者意味著美聯(lián)儲(Fed)應(yīng)該開始更多地關(guān)注通脹，并開始考慮加息？即便這不是許多迅速變黃的萌芽之一，美國經(jīng)濟(jì)要回歸充分就業(yè)狀態(tài)，幾乎肯定需要更多的刺激。