美联储和金融家

美国联邦储备委员会主席伯南克8月31日在怀俄明州杰克逊荷尔向世界上最具影响力的年度货币政策会议发表讲话。他冷静地解释了为什么美联储决心抵制稳定动荡不已的资本和房地产市场的压力。伯南克坚持原则的立场得到了欧洲央行行长特里谢和英格兰银行行长金的响应。他的这一立场引发了市场的风暴,而这一市场已经习惯了伯南克的前任格林斯潘的应时的放纵。

这毫无疑问是风险极高的举动,全球金融市场1700亿美元系于一发。那些认为格林斯潘是温暖的安全毯子的投资者们现在给他高达六位数的丰厚的演讲费。但是,伯南克和格林斯潘以及中央银行和市场之间究竟谁对?

了解一点知识历史有助于从历史的角度来进行今天的辩论。伯南克与在2006年接管美联储,他1999年在同一会议上发表了一篇精彩论文,从而开始了他的决策事业。作为一名学术界人士,伯南克认为各国的中央银行不应当猜测庞大的全球证券市场。它们应当置资本和房地产市场的波动于不顾,除非有明显和强烈的证据表明产出和通货膨胀危险的反馈。

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