US Dollar.

美联储为美元分心

坎布里奇—在9月的政策陈述中,美联储考虑了——以非常重点的方式——全球经济发展对美国、进而对美国货币政策的影响。事实上,美联储决定推迟升息的部分原因正是美国决策者预期美元升值将拉低进口品价格,从而妨碍其实现2%通胀目标的能力。

在现实中,其他国家的货币波动可能给它们的通胀造成重大影响,但美元波动很少对美国物价造成有意义的或持久的影响。当然,这当中的差别原因在于美元是国际贸易的主要结算货币:价格都是用美元定的。

正因美元常常作为债务合同记账单位,即使是借贷双方都不是美国实体的情况下也是如此,所以国际贸易结算的美元占比高达美国的世界进口占比的4.5倍和世界出口占比的三倍左右。93%左右的美国进口品用美元计价。

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