美元的未来

坎布里奇——

美国经济政策的目标是美元对内坚挺,对外具有竞争力。对内坚挺意味着低通胀,从而美元购买力不至于下降。对外具有竞争力意味着其他国家不应该人为压低货币价值以刺激出口、抑制进口。

自20世纪80年代早期保罗·沃克尔(Paul Volcker)出重手平抑通胀以来,维持美元对内坚挺一直是美联储的政策目标。美国并未设置正式的通胀目标,但金融市场默认美联储的目标在2%左右。法律规定美联储必须担起保证可持续增长和低通胀之职,而货币官员认为价格稳定是可持续增长的必要条件。

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