通胀之忧

发自普林斯顿——中央银行能控制通胀吗?我们的答案曾经是肯定的。过去20年来包括美国联储在内的世界各国中央银行都在稳定物价方面取得了令人瞩目的成就。但如今在金融危机的冲击下,一股不信任的浪潮正席卷全球——其中包括一个普遍流行的新忧虑,害怕中央银行无力控制通胀。

在美国,茶党将回归金本位列为其政纲的一部分,而犹他州则在为是否铸造金银币作为法定货币争论不休。德国人对通胀的忧虑迫使政府在欧洲债务减免问题上选择一个更强硬的立场。与此同时,对通胀的恐惧也引发了中国民众大规模的不满情绪。

这些在2011新挑战到来之前已经出现的通胀恐惧使长期能源价格成为了未知之数。在民主示威接连撼动阿拉伯独裁政权之时,这一长期不稳定状况也开始威胁以石油为生的全球经济,而日本地震的后果及其核事故也使人们对核能的安全性满腹狐疑。

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