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美联储论文:两年里缩表6750亿美元等效加息25基点

日期:2017-05-11
美联储论文:两年里缩表6750亿美元等效加息25基点(图1)

据5月11日彭博消息,堪萨斯城联邦储备银行研究人员称,在两年之中将美联储4.5万亿美元的资产负债表缩减6750亿美元“大约等效于将联邦基金利率上调25个基点”。
 
作者Troy Davig和A. Lee Smith在周三发布的论文中写道,在仅调整资产负债表的情况下,缩减6750亿美元或令期限溢价到2019年底上升大约25个基点。
 
美联储论文:两年里缩表6750亿美元等效加息25基点(图2)
 
基于模型来看,这样的上升将会导致自然实际联邦基金利率下降类似的幅度。这些变化“大体等效于将联邦基金利率上调25个基点”。
 
新浪美股注:堪萨斯城联邦储备银行行长是Esther George, 她今年在FOMC没有投票权;2016年五次FOMC决定维持利率不变时George都有异议,她赞成升息。

美联储论文:两年里缩表6750亿美元等效加息25基点(图3)

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