Paul Lachine

Пусть придут финансовые скептики

КЕМБРИДЖ. Продолжается гонка, чтобы занять самую важную должность по экономической политике в мире. Срок председателя ФРС США Бена Бернанке заканчивается в январе, и до этого времени президент Барак Обама должен принять решение: или снова утвердить Бернанке, или продолжить путь с кем-то другим – наиболее часто называют имена Лэрри Саммерса и Жанет Йеллен – с более крепкими демократическими устоями.

Это решение будет иметь важные последствия для экономики не только США, но и всего мира. Как стражи денежной массы страны и наладчики кратковременных процентных ставок, центральные банкиры всегда играли критическую роль. Если понизить процентные ставки слишком сильно, то последует инфляция и денежная нестабильность. Если их повысить слишком сильно, то экономика придет к рецессии и безработице.

Денежную политику едва ли можно назвать наукой, поэтому центральный банкир должен быть незаметным. Он должен осознавать границы своего понимания и эффективности инструментов, которые находятся в его распоряжении. Тем не менее, он не может себе позволить того, чтобы его считали нерешительным, что будет только способствовать дестабилизации и финансовым спекуляциям.

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