Jackson Hole真係令人好失望— Larry Summers (I)

Larry Summers一連兩篇網誌指聯儲局官員(特別是Janet Yellen)在Jackson Hole的演說反映該局過份自份,情況令他擔心。 在第一篇《Disappointed by what came out of Jackson Hole》,Summers就認為聯儲局官員在Jackson Hole會議中不停發放短期將收緊貨幣政策的訊號,將會損害該局的信用,甚至打擊經濟。 Embed from Getty Images 首先,Summers指出FOMC自2008年以來一直高估經濟復甦的情況,並幾年來都預計可在短期內推動利率正常化,但都事與願違。(下圖) For nearly a decade, since the mid 2008 FOMC meetings where many believed that the worst had past, the Fed been too serene about the economic outlook and a return to past regularities. When the Fed predicted … Read more Jackson Hole真係令人好失望— Larry Summers (I)