{"id":12167,"date":"2022-02-18T14:07:34","date_gmt":"2022-02-18T19:07:34","guid":{"rendered":"https:\/\/nacr.info\/WordPress\/?p=12167"},"modified":"2022-02-18T16:38:03","modified_gmt":"2022-02-18T21:38:03","slug":"the-fed-missed-inflation-can-jay-powell-tame-it-without-causing-a-recession","status":"publish","type":"post","link":"https:\/\/nacr.info\/WordPress\/index.php\/2022\/02\/18\/the-fed-missed-inflation-can-jay-powell-tame-it-without-causing-a-recession\/","title":{"rendered":"\u8bc4\u8bba \uff1a\u7f8e\u8054\u50a8\u80fd\u5426\u9a6f\u670d\u901a\u80c0\u731b\u517d\u7684\u540c\u65f6\u907f\u514d\u7ecf\u6d4e\u8427\u6761"},"content":{"rendered":"\n<p class=\"has-text-align-right\" style=\"font-size:15px\">\u4f5c\u8005\uff1a\u9646\u6587\u79be \/ 2022.02.17<br>\u53d1\u7a3f\uff1a2022.02.18<\/p>\n\n\n\n<p style=\"font-size:18px\"><span style=\"color:#000693\" 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style=\"font-size:18px\"><span style=\"color:#000693\" class=\"has-inline-color\">\u8bf4\u5230\u5e95\uff0c\u662f\u7f8e\u56fd\u4eba\u6c11\u80fd\u4e0d\u80fd\u56de\u5230\u795e\u7684\u8fd9\u4e00\u8fb9\u6765\uff0c\u6309\u7167\u795e\u7684\u65e8\u610f\uff0c\u8ba4\u8ba4\u771f\u771f\u505a\u4eba\uff0c\u8e0f\u8e0f\u5b9e\u5b9e\u505a\u4e8b\uff0c\u540c\u5fc3\u540c\u5fb7\u5171\u5ea6\u96be\u5173\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:18px\"><span style=\"color:#000693\" class=\"has-inline-color\">\u6211\u4eec\u7948\u7977\u4e0a\u5e1d\u7ed9\u6211\u4eec\u4eae\u5149\uff0c\u5e26\u9886\u6211\u524d\u9762\u7684\u8def\u3002\u6211\u4eec\u4e3a\u9c8d\u5a01\u5c14\u7977\u544a\uff0c\u6c42\u795e\u7ed9\u4ed6\u667a\u6167\uff1b\u4e3a\u7f8e\u56fd\u7948\u7977\uff0c\u6c42\u795e\u8d50\u4e0b\u601c\u60af\u3002<\/span><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p style=\"font-size:19px\"><span style=\"color:#000693\" class=\"has-inline-color\">&nbsp;<\/span><strong><span class=\"has-inline-color has-black-color\">\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u7ecf\u6d4e\u7248&nbsp;<\/span><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><span class=\"has-inline-color has-black-color\">\u7f8e\u8054\u50a8\u9519\u5224\u4e86\u901a\u8d27\u81a8\u80c0\u3002\u6770\u4f0a\u00b7\u9c8d\u5a01\u5c14\u80fd\u5426\u5728\u4e0d\u5bfc\u81f4\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u9a6f\u670d\u5b83\uff1f<\/span><\/strong>&nbsp;<\/h2>\n\n\n\n<p style=\"font-size:24px\"><strong><span class=\"has-inline-color has-vivid-red-color\">\u2014\u2014 \u7f8e\u8054\u50a8\u4e3b\u5e2d\u7b56\u5212\u4e86\u4e00\u9879\u7ecf\u6d4e\u6551\u52a9\u8ba1\u5212\uff0c\u4f46\u73b0\u5728\u9762\u4e34\u7740\u5728\u4e0d\u963b\u788d\u589e\u957f\u7684\u60c5\u51b5\u4e0b\u964d\u4f4e\u4ef7\u683c\u7684\u68d8\u624b\u4efb\u52a1&nbsp;<\/span><\/strong><\/p>\n\n\n\n<p class=\"has-text-align-right\" style=\"font-size:15px\">\u4f5c\u8005\uff1aNick Timiraos\u202f\/\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\/ 2022.02.15<br>\u7f16\u8bd1\uff1a\u9646\u6587\u79be \/ 2022.02.17<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5728\u761f\u75ab\u5927\u6d41\u884c\u7684\u7b2c\u4e00\u5e74\uff0c\u7f8e\u8054\u50a8\u4e3b\u5e2d\u6770<strong>\u7f57\u7c73\u00b7\u9c8d\u5a01\u5c14<\/strong>\u8d62\u5f97\u4e86\u8d27\u5e01\u9e3d\u6d3e\u7684\u58f0\u8a89\uff0c<a href=\"https:\/\/www.wsj.com\/articles\/fate-and-history-the-fed-tosses-the-rules-to-fight-coronavirus-downturn-11587999986?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/fate-and-history-the-fed-tosses-the-rules-to-fight-coronavirus-downturn-11587999986?mod=article_inline\">\u63a8\u51fa\u4e86<\/a>\u65e8\u5728\u9632\u6b62\u91d1\u878d\u548c\u7ecf\u6d4e\u5d29\u6e83\u7684\u4e00\u7cfb\u5217\u521b\u65b0\u653f\u7b56\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5982\u4eca\uff0c\u4ed6\u6b63\u5728\u8f6c\u53d8\u4e3a<a href=\"https:\/\/www.wsj.com\/articles\/high-inflation-falling-unemployment-prompted-powells-fed-pivot-11638786601?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/high-inflation-falling-unemployment-prompted-powells-fed-pivot-11638786601?mod=article_inline\">\u9e70\u6d3e<\/a>\uff0c\u613f\u610f\u540c\u6837\u4ee5\u5373\u5174\u7684\u65b9\u5f0f\u9a6f\u670d\u901a\u80c0\uff0c\u76ee\u524d\u901a\u80c0\u7387\u8fbe\u52307.5%\uff0c\u4e3a40\u5e74\u6765\u7684\u9ad8\u70b9\u3002\u4ed6\u662f\u5426\u6210\u529f\u5c06\u5728\u5f88\u5927\u7a0b\u5ea6\u4e0a\u51b3\u5b9a\u7ecf\u6d4e\u7684\u672a\u6765\u53d1\u5c55\u8def\u5f84\u4ee5\u53ca\u592e\u884c\u7684\u4fe1\u8a89\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5e61\u7136\u6539\u53d8\u9762\u8c8c\u7684\u5fc5\u8981\u662f\u7f8e\u8054\u50a8\u81ea\u5df1\u9020\u6210\u7684\u3002<strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u5bf9\u8fd9\u4e00\u761f\u75ab\u6d41\u884c\u75c5\u7684\u5e94\u5bf9\u662f\u52a0\u500d\u5b9e\u65bd\u5176\u524d\u4efb\u6240\u5236\u5b9a\u7684\u5e94\u5bf9\u957f\u671f\u9ad8\u5931\u4e1a\u7387\u548c\u6781\u4f4e\u901a\u80c0\u7684\u6218\u7565\u3002\u5f53\u52b3\u52a8\u529b\u5e02\u573a\u8fc5\u901f\u6062\u590d\uff0c\u9ad8\u901a\u80c0\u4e8e\u662f\u6210\u4e3a\u66f4\u5927\u7684\u5a01\u80c1\u65f6\uff0c\u4ed6\u548c\u4ed6\u7684\u540c\u4e8b\u4eec\u63aa\u624b\u4e0d\u53ca\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u66fe\u53c2\u4e0e\u8bbe\u8ba1\u6240\u6709\u8fd9\u4e9b\u653f\u7b56\uff0c\u5728\u53bb\u5e749\u6708\u4e4b\u524d\u62c5\u4efb\u6ce2\u58eb\u987f\u8054\u50a8\uff08Boston Fed\uff09\u603b\u88c1\u7684<strong>\u57c3\u91cc\u514b\u00b7\u7f57\u68ee\u683c\u4f26<\/strong>\uff08Eric Rosengren\uff09\u8bf4\uff1a \u201c\u6211\u4eec\u8fdc\u8fdc\u843d\u540e\u4e8e\u66f2\u7ebf\u3002\u8fd9\u4e0d\u662f\u6211\u4eec\u539f\u6765\u60f3\u8981\u7684\u3002\u201d<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5728\u67d0\u4e9b\u65b9\u9762\uff0c<strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u7684\u6311\u6218\u6bd4\u761f\u75ab\u5927\u6d41\u884c\u5f00\u59cb\u65f6\u66f4\u52a0\u68d8\u624b\u3002\u81ea1980\u5e74\u4ee3\u521d<strong>\u4fdd\u7f57\u00b7\u6c83\u5c14\u514b<\/strong>\uff08Paul Volcker\uff09\u4ee5\u6765\uff0c\u6ca1\u6709\u4e00\u4f4d\u7f8e\u8054\u50a8\u4e3b\u5e2d\u4e0d\u5f97\u4e0d\u5e94\u5bf9\u5982\u6b64\u9ad8\u7684\u901a\u80c0\u3002<strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u548c\u56fd\u5bb6\u9762\u4e34\u7684\u98ce\u9669\u662f\uff0c\u4ed6\u4e0e\u901a\u80c0\u7684\u6597\u4e89\u5c06\u5bfc\u81f4\u7ecf\u6d4e\u65b0\u7684\u8870\u9000\uff0c\u5c31\u50cf<strong>\u6c83\u5c14\u514b<\/strong>\u5148\u751f\u4ee5\u524d\u4e4b\u6240\u884c\u3002\u4ece\u5386\u53f2\u4e0a\u770b\uff0c\u7f8e\u8054\u50a8\u4ece\u6765\u65e0\u6cd5\u5728\u6ca1\u6709\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u538b\u4f4e\u901a\u80c0\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u7a76\u7adf\u6253\u7b97\u5982\u4f55\u6536\u7d27\u653f\u7b56\u662f\u4e00\u4e2a\u989d\u5916\u7684\u6311\u6218\u3002\u7f8e\u8054\u50a8\u65e2\u6709\u4f20\u7edf\u7684\u77ed\u671f\u5229\u7387\u6760\u6746\uff0c\u4e5f\u6709\u4e00\u4e2a\u65b0\u5947\u7684\u6760\u6746\uff1a<a href=\"https:\/\/www.wsj.com\/articles\/fed-steps-up-deliberations-on-shrinking-its-9-trillion-asset-portfolio-11643020203?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/fed-steps-up-deliberations-on-shrinking-its-9-trillion-asset-portfolio-11643020203?mod=article_inline\">\u7f29\u51cf\u5176\u5927\u91cf\u6301\u6709\u7684\u7f8e\u56fd\u56fd\u503a\u548c\u5730\u4ea7\u62b5\u62bc\u8d37\u6b3e\u652f\u6301\u8bc1\u5238<\/a>\u3002\u5bf9\u4e8e\u4e60\u60ef\u4e8e\u5728\u8fc7\u53bb20\u5e74\u4e2d\u4e3b\u8981\u53ea\u4f7f\u7528\u5229\u7387\u5e76\u8bd5\u56fe\u7528\u7535\u62a5\u6765\u663e\u793a\u5b83\u4f1a\u4ee5\u591a\u5feb\u7684\u901f\u5ea6\u52a0\u606f\u7684\u4e2d\u592e\u94f6\u884c\u7684\u5e02\u573a\u6765\u8bf4\uff0c\u8fd9\u53ef\u80fd\u5c24\u5176\u5371\u9669\u3002&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u7f8e\u8054\u50a8\u5b98\u5458\u8b66\u544a\u79f0\uff0c\u4ed6\u4eec\u8fd9\u6b21\u65e0\u6cd5\u63d0\u4f9b\u540c\u6837\u7684\u53ef\u9884\u6d4b\u6027\u3002\u582a\u8428\u65af\u57ce\u8054\u90a6\u50a8\u5907\u94f6\u884c\uff08Kansas City Fed\uff09\u603b\u88c1<strong>\u4ee5\u65af\u5e16\u00b7\u4e54\u6cbb<\/strong>\uff08Esther George\uff09\u8868\u793a\uff0c\u5bf9\u5e02\u573a\u800c\u8a00\uff0c\u201c\u8fd9\u53ef\u80fd\u662f\u4e00\u6bb5\u574e\u5777\u7684\u65f6\u671f\u201d\u3002&nbsp;<\/span><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/images.wsj.net\/im-486037?width=639&amp;height=426\" alt=\"\" width=\"419\" height=\"278\"\/><figcaption>\u582a\u8428\u65af\u57ce\u8054\u90a6\u50a8\u5907\u94f6\u884c\u603b\u88c1<strong>\u4ee5\u65af\u5e16\u00b7\u4e54\u6cbb<\/strong><br>\u6444\u5f71\uff1aAnn Saphir\/\u8def\u900f\u793e<\/figcaption><\/figure><\/div>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5728\u4e0d\u5230\u4e00\u5e74\u7684\u65f6\u95f4\u91cc\uff0c\u7f8e\u8054\u50a8\u4ece\u9884\u8ba12024\u5e74\u4e4b\u524d\u4e0d\u4f1a\u52a0\u606f\u5230<a href=\"https:\/\/www.wsj.com\/articles\/fed-steps-up-deliberations-on-shrinking-its-9-trillion-asset-portfolio-11643020203?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/fed-steps-up-deliberations-on-shrinking-its-9-trillion-asset-portfolio-11643020203?mod=article_inline\">\u8868\u793a\u5c06\u57283\u670815\u65e5\u81f316\u65e5\u7684\u4e0b\u6b21\u4f1a\u8bae\u4e0a\u52a0\u606f<\/a>\uff0c\u8fd9\u662f\u81ea2018\u5e74\u4ee5\u6765\u7684\u9996\u6b21\u3002\u7136\u540e\u5c31\u5728\u8fc7\u53bb\u4e00\u5468\uff0c<a href=\"https:\/\/www.wsj.com\/articles\/rising-inflation-keeps-pressure-on-fed-to-frontload-rate-increases-11644509103?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/rising-inflation-keeps-pressure-on-fed-to-frontload-rate-increases-11644509103?mod=article_inline\">\u6295\u8d44\u8005\u5df2\u7ecf\u5f00\u59cb\u9884\u8ba1\u5728\u90a3\u6b21\u4f1a\u8bae\u4e0a\u52a0\u606f\u534a\u4e2a\u70b9<\/a>\u800c\u4e0d\u662f\u56db\u5206\u4e4b\u4e00\u70b9\uff0c\u8fd9\u5c06\u662f\u81ea2000\u5e74\u4ee5\u6765\u7684\u7b2c\u4e00\u6b21\u5982\u6b64\u5927\u7684\u589e\u957f\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u8fc7\u53bb\u7684\u7f8e\u8054\u50a8\u4e3b\u5e2d\u90fd\u6ca1\u6709\u50cf<strong>\u9c8d\u5a01\u5c14<\/strong>\u6240\u9762\u5bf9\u7684\u90a3\u6837\uff0c\u9700\u8981\u4e0d\u5f97\u4e0d\u53bb\u5904\u7406\u7f8e\u56fd\u548c\u8d38\u6613\u4f19\u4f34\u7ecf\u6d4e\u505c\u6446\u7684\u95ee\u9898\u3002\u5f88\u591a\u4e8b\u60c5\u90fd\u53d6\u51b3\u4e8e\u4ed6\u65e0\u6cd5\u63a7\u5236\u7684\u95ee\u9898\uff0c\u5305\u62ec\u75c5\u6bd2\u5728\u591a\u5927\u7a0b\u5ea6\u4e0a\u6d88\u9000\u3001\u4f9b\u5e94\u94fe\u6062\u590d\u7684\u901f\u5ea6\u4ee5\u53ca\u5de5\u4f5c\u5b89\u6392\u548c\u652f\u51fa\u504f\u597d\u4f1a\u5728\u591a\u5927\u7a0b\u5ea6\u4e0a\u6062\u590d\u5230\u761f\u75ab\u5927\u6d41\u884c\u524d\u7684\u6a21\u5f0f\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\"><strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u5df2\u88ab<strong>\u62dc\u767b<\/strong>\u603b\u7edf*\u63d0\u540d\u8fde\u4efb\uff0c\u9884\u8ba1\u5c06\u5728\u53c2\u8bae\u9662\u786e\u8ba4\u6295\u7968\u4e2d\u8d62\u5f97\u4e24\u515a\u652f\u6301\u3002<a href=\"https:\/\/www.wsj.com\/articles\/senate-republicans-set-to-stall-key-vote-on-bidens-fed-nominees-11644949966?mod=hp_lead_pos4&amp;mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/senate-republicans-set-to-stall-key-vote-on-bidens-fed-nominees-11644949966?mod=hp_lead_pos4&amp;mod=article_inline\">\u5171\u548c\u515a\u4eba\u5468\u4e8c\u63a8\u8fdf\u4e86\u53c2\u8bae\u9662\u94f6\u884c\u59d4\u5458\u4f1a\u7684\u9884\u5b9a\u786e\u8ba4\u6295\u7968<\/a>\uff0c\u5bf9<strong>\u62dc\u767b<\/strong>\u7684\u5176\u4ed6\u7f8e\u8054\u50a8\u4eba\u9009\u4e4b\u4e00\u8868\u793a\u53cd\u5bf9\u3002\u5c0f\u7ec4\u4e2d\u768412\u540d\u6c11\u4e3b\u515a\u4eba\u4e2d\uff0c\u9664\u4e86\u4e00\u540d\u4e4b\u5916\uff0c\u5176\u4ed6\u6240\u6709\u4eba\u90fd\u8868\u793a\uff0c\u4e00\u65e6\u6295\u7968\u53d1\u751f\uff0c\u4ed6\u4eec\u5c06\u652f\u6301<strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u3002<\/span>&nbsp;&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">2020\u5e74\u521d\u761f\u75ab\u5927\u6d41\u884c\u75c5\u7206\u53d1\u65f6\uff0c<strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u6d4f\u89c8\u4e86\u524d\u4e3b\u5e2d<strong>\u672c\u00b7\u4f2f\u5357\u514b<\/strong>\uff08Ben Bernanke\uff09\u7684\u5e94\u5bf9\u5371\u673a\u624b\u518c\uff0c\u7136\u540e\u6dfb\u52a0\u4e86\u65b0\u7684\u9875\u9762\uff0c\u505a\u4e86\u7f8e\u8054\u50a8\u4ece\u672a\u505a\u8fc7\u7684\u4e8b\u60c5\uff0c\u4f8b\u5982\u76f4\u63a5\u5411\u57ce\u5e02\u3001\u5dde\u548c\u4f01\u4e1a\u63d0\u4f9b\u8d37\u6b3e\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5c3d\u7ba1\u91d1\u878d\u5371\u673a\u6700\u4e25\u91cd\u7684\u65f6\u671f\u5230\u4e86\u5f53\u5e74\u76846\u6708\u5df2\u7ecf\u8fc7\u53bb\uff0c\u4f46\u7ecf\u6d4e\u5f62\u52bf\u4f9d\u7136\u9eef\u6de1\u3002\u5931\u4e1a\u7387\u8fbe\u523014.7%\u7684\u5cf0\u503c\uff0c\u5176\u4e2d\u8fd8\u4e0d\u5305\u62ec\u6570\u767e\u4e07\u79bb\u5f00\u52b3\u52a8\u529b\u5e02\u573a\u7684\u7f8e\u56fd\u4eba\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">2020\u5e748\u6708\uff0c<strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u5e26\u9886\u4ed6\u7684\u540c\u4e8b\u4eec\u91c7\u7528\u4e86\u4e00\u9879\u653f\u7b56\u6846\u67b6\uff0c\u65e8\u5728\u89e3\u51b3\u4e00\u4e2a\u957f\u671f\u56f0\u6270\u7f8e\u8054\u50a8\u548c\u5176\u4ed6\u4e2d\u592e\u94f6\u884c\u7684\u95ee\u9898\uff1a\u901a\u80c0\u7387\u6301\u7eed\u4f4e\u4e8e2%\u7684\u76ee\u6807\u3002\u800c\u75ab\u60c5\u53ef\u80fd\u4f1a\u4f7f\u8fd9\u4e2a\u95ee\u9898\u6076\u5316\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5728\u7f8e\u8054\u50a8\u7684\u65e7\u6846\u67b6\u4e0b\uff0c\u5b83\u4f1a\u5148\u53d1\u5236\u4eba\u5730\u63d0\u9ad8\u5229\u7387\u3002\u4e0d\u662f\u7b49\u5230\u901a\u80c0\u7387\u8d85\u8fc72%\uff0c\u800c\u662f\u5728\u5931\u4e1a\u7387\u4e0b\u964d\u65f6\u5c31\u91c7\u53d6\u884c\u52a8\uff0c\u9632\u6b62\u901a\u80c0\u7387\u8d85\u8fc72%\u3002<\/span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u65b0\u6846\u67b6<a href=\"https:\/\/www.wsj.com\/articles\/feds-powell-headlines-virtual-jackson-hole-economic-conference-11598486400?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/feds-powell-headlines-virtual-jackson-hole-economic-conference-11598486400?mod=article_inline\">\u62d2\u7edd\u5148\u53d1\u5236\u4eba\u5730\u6253\u51fb\u901a\u80c0<\/a>\u3002\u4e3a\u4e86\u5c06\u8fd9\u4e00\u65b0\u6846\u67b6\u4ed8\u8bf8\u5b9e\u65bd\uff0c<a href=\"https:\/\/www.wsj.com\/articles\/fed-signals-interest-rates-to-stay-near-zero-through-2023-11600279214?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/fed-signals-interest-rates-to-stay-near-zero-through-2023-11600279214?mod=article_inline\">\u4ed6\u4eec\u57282020\u5e749\u6708\u627f\u8bfa\u5c06\u5229\u7387\u7ef4\u6301\u5728\u63a5\u8fd1\u4e8e\u96f6\u7684\u6c34\u5e73<\/a>\uff0c\u76f4\u5230\u52b3\u52a8\u529b\u5e02\u573a\u72b6\u51b5\u4e0e\u6700\u5927\u5c31\u4e1a\uff08\u5b9a\u4e49\u672a\u5b8c\u5168\u786e\u5b9a\uff0c\u4f46\u901a\u5e38\u4e0e\u5386\u53f2\u4f4e\u6c34\u5e73\u7684\u5931\u4e1a\u7387\u4e00\u81f4\uff09\u4ee5\u53ca\u901a\u80c0\u8fbe\u52302%\u5e76\u8d70\u9ad8\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u4e3a\u4e86\u8fdb\u4e00\u6b65\u52a0\u5feb\u5931\u4e1a\u7387\u7684\u4e0b\u964d\uff0c\u7f8e\u8054\u50a8\u90a3\u65f6\u6bcf\u6708\u4f1a\u8d2d\u4e701200\u4ebf\u7f8e\u5143\u7684\u7f8e\u56fd\u56fd\u503a\u548c\u5730\u4ea7\u62b5\u62bc\u503a\u5238\u3002\u5176\u76ee\u6807\u662f\u901a\u8fc7\u964d\u4f4e\u957f\u671f\u5229\u7387\u5c06\u6295\u8d44\u8005\u5f15\u5bfc\u81f3\u98ce\u9669\u66f4\u9ad8\u7684\u8d44\u4ea7\uff0c\u63d0\u632f\u80a1\u7968\u3001\u516c\u53f8\u503a\u5238\u548c\u623f\u5730\u4ea7\u3002\u4ece\u7406\u8bba\u4e0a\u8bb2\uff0c\u8d2d\u4e70\u671f\u9650\u8f83\u957f\u7684\u8bc1\u5238\u4f1a\u964d\u4f4e\u7ecf\u6d4e\u5b66\u5bb6\u6240\u8bf4\u7684 \u201c\u671f\u9650\u6ea2\u4ef7\u201d\uff0c\u5373\u6295\u8d44\u8005\u5bf9\u957f\u671f\u501f\u8d37\u98ce\u9669\u6240\u8981\u6c42\u7684\u989d\u5916\u6536\u76ca\u3002<\/span>&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-23.jpeg\" alt=\"\u623f\u5b50\u524d\u7684\u8def\u4e0a\n\n\u63cf\u8ff0\u5df2\u81ea\u52a8\u751f\u6210\" class=\"wp-image-12169\" width=\"443\" height=\"295\" srcset=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-23.jpeg 700w, https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-23-300x200.jpeg 300w\" sizes=\"auto, (max-width: 443px) 100vw, 443px\" \/><figcaption>\u52a0\u5229\u798f\u5c3c\u4e9a\u5dde\u8428\u514b\u62c9\u95e8\u6258\u7684\u5854\u53ef\u949f\uff08\u9910\u996e\u5e97\uff09\u4e0a\u7684\u4e00\u4e2a\u62db\u5de5\u6807\u5fd7\u3002&nbsp;<br>&nbsp;\u6444\u5f71\uff1aRich Pedroncelli \/ \u7f8e\u8054\u793e&nbsp;<\/figcaption><\/figure><\/div>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u7f8e\u8054\u50a8\u548c\u8bb8\u591a\u79c1\u8425\u90e8\u95e8\u7ecf\u6d4e\u5b66\u5bb6\u5bf9\u53bb\u5e74\u91cd\u65b0\u5f00\u653e\u65f6\u7ecf\u6d4e\u7684\u53cd\u5e94\u611f\u5230\u63aa\u624b\u4e0d\u53ca\u3002\u5931\u4e1a\u7387\u4e0b\u964d\u7684\u901f\u5ea6\u6bd4\u9884\u671f\u7684\u8981\u5feb\u5f97\u591a \u2014\u2014 \u4ece6\u6708\u4efd\u76845.9%\u4e0b\u964d\u5230\u4e0a\u4e2a\u6708\u76844%\u3002\u7531\u4e8e\u96c7\u4e3b\u9762\u4e34\u52b3\u52a8\u529b\u77ed\u7f3a\uff0c\u5de5\u8d44\u7a33\u6b65\u4e0a\u6da8\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u53bb\u5e74\u6625\u5929\uff0c\u7531\u4e8e\u5546\u54c1\u9700\u6c42\u65fa\u76db\uff0c\u4ee5\u53ca\u534a\u5bfc\u4f53\u7b49\u4e2d\u95f4\u4ea7\u54c1\u7684\u8fd0\u8f93\u74f6\u9888\u548c\u77ed\u7f3a\uff0c\u901a\u8d27\u81a8\u80c0\u7387\u98d9\u5347\u3002\u7f8e\u8054\u50a8\u5b98\u5458\u5c06\u5f02\u8d28\u7684\u98d9\u5347\u5f52\u56e0\u4e8e\u4e0e\u91cd\u65b0\u5f00\u653e\u7ecf\u6d4e\u6709\u5173\u7684\u5c11\u6570\u5546\u54c1\u4ef7\u683c\u7684\u7279\u6b8a\u4e0a\u6da8\uff0c\u4ed6\u4eec\u8ba4\u4e3a\u8fd9\u5c06\u662f\u77ed\u6682\u7684\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u4e8b\u5b9e\u76f8\u53cd\uff0c\u4ef7\u683c\u4e0a\u6da8\u538b\u529b\u6269\u5927\u4e86\u3002\u5728\u91c7\u7528\u65b0\u6846\u67b6\u65f6\uff0c\u65e0\u8bba\u5728\u7f8e\u8054\u50a8\u5185\u90e8\u8fd8\u662f\u5916\u90e8\uff0c\u51e0\u4e4e\u6ca1\u6709\u7ecf\u6d4e\u5b66\u5bb6\u60f3\u8c61\u5230\u901a\u80c0\u4f1a\u51fa\u73b0\u5982\u6b64\u5927\u5e45\u5ea6\u7684\u98d9\u5347\u3002\u7f8e\u8054\u50a8\u5b98\u5458\u53cd\u800c\u611f\u5230\u4ed6\u4eec\u4e0d\u5f97\u4e0d\u5c06\u5229\u7387\u7ef4\u6301\u5728\u96f6\u6c34\u5e73\uff0c\u5e76\u7ee7\u7eed\u589e\u52a0\u5176\u503a\u5238\u6295\u8d44\u7ec4\u5408\uff0c\u4ee5\u9075\u5b88\u4ed6\u4eec\u4e3a\u5b9e\u73b0\u6700\u5927\u5c31\u4e1a\u800c\u5236\u5b9a\u7684\u6307\u5bfc\u65b9\u9488\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\"><strong>\u7f57\u68ee\u683c\u4f26<\/strong>\u5148\u751f\u8bf4\uff1a\u201c\u56de\u60f3\u8d77\u6765\uff0c\u90a3\u4e2a\u6307\u5bfc\u65b9\u9488\u73b0\u5728\u770b\u8d77\u6765\u5e76\u4e0d\u7406\u60f3\u3002\u201d<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u6b64\u5916\uff0c\u5728<strong>\u62dc\u767b<\/strong>\u603b\u7edf*\u4e8e2021\u5e743\u6708\u7b7e\u7f721.9\u4e07\u4ebf\u7f8e\u5143\u7684\u8d22\u653f\u523a\u6fc0\u6cd5\u6848\u6210\u4e3a\u6cd5\u5f8b\u540e\uff0c<strong>\u9c8d\u5a01\u5c14<\/strong>\u548c\u4ed6\u7684\u540c\u4e8b\u4eec\u8fdf\u8fdf\u6ca1\u6709\u4fee\u6b63\u4ed6\u4eec\u5bf9\u589e\u957f\u3001\u901a\u80c0\u548c\u5229\u7387\u7684\u9884\u6d4b\uff0c\u5c3d\u7ba1\u5305\u62ec\u524d\u8d22\u653f\u90e8\u957f<strong>\u62c9\u91cc\u00b7\u8428\u9ed8\u65af<\/strong>\uff08Larry Summers\uff09\u5728\u5185\u7684\u5c11\u6570\u7ecf\u6d4e\u5b66\u5bb6\u8b66\u544a\u79f0\uff0c\u652f\u51fa\u53ef\u80fd\u52a9\u957f\u901a\u80c0\u3002\u7f8e\u8054\u50a8\u524d\u526f\u4e3b\u5e2d<strong>\u5510\u7eb3\u5fb7\u00b7\u79d1\u6069<\/strong>\uff08Donald Kohn\uff09\u8868\u793a\uff0c\u5728\u524d\u603b\u7edf<strong>\u5510\u7eb3\u5fb7\u00b7\u5ddd\u666e<\/strong>\u4e8e2020\u5e74\u5e95\u6279\u51c6\u4e86\u4e00\u9879\u4ef7\u503c9,000\u4ebf\u7f8e\u5143\u7684\u63aa\u65bd\u4e4b\u540e\uff0c\u56de\u8fc7\u5934\u6765\u770b\uff0c\u8fd9\u79cd\u63d0\u632f\u539f\u5c31\u5e94\u8be5 \u201c\u8ba9\u4ed6\u4eec\u7684\u89e6\u89d2\u66f4\u52a0\u81ea\u89c9\u5730\u6296\u52a8\u8d77\u6765\u201d\u3002&nbsp;<\/span>&nbsp;<\/p>\n\n\n\n<iframe loading=\"lazy\" allowfullscreen=\"true\" webkitallowfullscreen=\"true\" mozallowfullscreen=\"true\" frameborder=\"0\" scrolling=\"no\" marginheight=\"0\" marginwidth=\"0\" width=\"512\" height=\"288\" src=\"https:\/\/video-api.wsj.com\/api-video\/player\/v3\/iframe.html?guid=2C28F0A2-0BA9-4A9E-8EAE-06BD899B7B74\"><\/iframe>\n\n\n\n<p style=\"font-size:15px\"><span style=\"color:#0000ff\" class=\"has-inline-color\">\u7f8e\u8054\u50a8\u5df2\u8868\u793a\u8ba1\u5212\u57282022\u5e74\u52a0\u606f\uff0c\u4ee5\u5e94\u5bf9\u901a\u80c0\u5c45\u9ad8\u4e0d\u4e0b\u3002\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u7684 J.J. McCorvey \u89e3\u91ca\u4e86\u66f4\u9ad8\u7684\u5229\u7387\u5bf9\u60a8\u7684\u8d22\u52a1\u610f\u5473\u7740\u4ec0\u4e48\u3002&nbsp;\u7167\u7247\u63d2\u56fe\uff1aTodd Johnson&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5230\u53bb\u5e74\u590f\u672b\uff0c<strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u5f00\u59cb\u8f6c\u5411\u300211\u6708\uff0c\u4ed6\u542f\u52a8\u4e86\u4e00\u9879\u8ba1\u5212\uff0c\u57288\u4e2a\u6708\u5185\u5c06\u7f8e\u8054\u50a8\u7684\u6bcf\u6708\u503a\u5238\u8d2d\u4e70\u91cf\u964d\u81f3\u96f6\uff0c\u4e3a\u52302022\u5e74\u5e74\u4e2d\u52a0\u606f\u626b\u6e05\u4e86\u9053\u8def\u3002\u4f46\u52b3\u52a8\u529b\u5e02\u573a\u6b63\u5728\u8fc5\u901f\u6536\u7d27\uff0c\u901a\u80c0\u538b\u529b\u975e\u4f46\u6ca1\u6709\u7f13\u89e3\uff0c\u53cd\u800c\u6269\u5927\u4e86\u3002<a href=\"https:\/\/www.wsj.com\/articles\/fed-prepares-faster-end-to-stimulus-making-earlier-rate-increases-possible-11639564208?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/fed-prepares-faster-end-to-stimulus-making-earlier-rate-increases-possible-11639564208?mod=article_inline\">\u9c8d\u5a01\u5c14\u5148\u751f\u572812\u6708\u8868\u793a\uff0c\u8d2d\u4e70\u5c06\u57283\u6708\u7ed3\u675f<\/a>\uff0c\u4e4b\u540e\u53ef\u4ee5\u7acb\u5373\u5f00\u59cb\u52a0\u606f\u3002&nbsp;<\/span><\/p>\n\n\n\n<p>\u4e8e\u4e2d\u592e\u94f6\u884c\u6765\u8bf4\uff0c\u8fd9\u662f\u4e00\u4e2a\u4e0d\u5bfb\u5e38\u7684\u5e61\u7136\u8f6c\u53d8\u3002<strong>\u79d1\u6069<\/strong>\u5148\u751f\u8bf4\uff1a\u201c\u5f53\u6570\u636e\u51fa\u6765\u540e\uff0c\u4ed6\u4eec\u8bf4\uff1a\u2018\u6211\u4eec\u9519\u4e86\u3002\u2019\u4f60\u6709\u591a\u5c11\u6b21\u542c\u5230\u7f8e\u8054\u50a8\u8fd9\u6837\u8bf4\uff1f\u201d <\/p>\n\n\n\n<p><strong>\u79d1\u6069<\/strong>\u5148\u751f\u79f0\uff0c\u5c3d\u7ba1\u8f6c\u53d8\u8fc5\u901f\uff0c\u4f46\u653f\u7b56\u53cd\u5e94\u4ecd\u6709\u8ffd\u56de\u4e4b\u7a7a\u95f4\u3002\u5c31\u5728\u53bb\u5e7412\u6708\uff0c\u7f8e\u8054\u50a8\u5b98\u5458\u7ee7\u7eed\u6697\u793a\u4ed6\u4eec\u5c06\u50cf\u8fc7\u53bb\u4e00\u6837\u6536\u7d27\u8d27\u5e01\u653f\u7b56\uff1a\u672a\u6765\u4e09\u5e74\u5c06\u6e29\u548c\u52a0\u606f\u3002\u4ed6\u4eec\u7684\u524d\u63d0\u662f\u901a\u80c0\u7387\u4e0b\u964d\u81f32%\uff0c\u5c3d\u7ba1\u4ed6\u4eec\u9884\u8ba1\u7ecf\u6d4e\u589e\u957f\u548c\u5931\u4e1a\u7387\u5c06\u5904\u4e8e\u5bf9\u901a\u80c0\u65bd\u52a0\u4e0a\u884c\u538b\u529b\u7684\u6c34\u5e73\u3002<\/p>\n\n\n\n<p><strong>\u79d1\u6069<\/strong>\u5148\u751f\u8bf4\uff1a\u201c\u9884\u6d4b\u5e76\u672a\u5b9e\u73b0\u3002\u201d&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\"><strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u4f3c\u4e4e\u5728\u4e0a\u4e2a\u6708\u7f8e\u8054\u50a8\u4f1a\u8bae\u540e\u7684\u65b0\u95fb\u53d1\u5e03\u4f1a\u4e0a\u627f\u8ba4\u4e86\u8fd9\u4e00\u70b9\u3002\u4ed6\u6697\u793a\u4e86\u66f4\u5feb\u7684\u52a0\u606f\u8def\u5f84\uff0c\u5e76\u62d2\u7edd\u6392\u9664\u5728\u8fde\u7eed\u653f\u7b56\u4f1a\u8bae\u4e0a\u52a0\u606f\u7684\u53ef\u80fd\u6027\uff0c\u8fd9\u79cd\u8fde\u7eed\u52a0\u606f\u662f\u81ea2006\u5e74\u4ee5\u6765\u4ece\u672a\u53d1\u751f\u8fc7\u7684\uff0c\u6216\u8005\u4e00\u6b21\u52a0\u606f0.5\u4e2a\u767e\u5206\u70b9\u7684\u53ef\u80fd\u6027\u3002\u4ed6\u8bf4\uff1a\u201c\u6211\u8ba4\u4e3a\u4e0d\u53ef\u80fd\u786e\u5207\u5730\u8bf4\u51fa\u8fd9\u5c06\u4f1a\u5982\u4f55\u53d1\u5c55\u3002\u201d <\/span><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-51.png\" alt=\"\" class=\"wp-image-12174\" width=\"354\" height=\"474\" srcset=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-51.png 321w, https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-51-224x300.png 224w\" sizes=\"auto, (max-width: 354px) 100vw, 354px\" \/><\/figure><\/div>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u8fd9\u6807\u5fd7\u7740\u4ece2004\u5e74\u5f00\u59cb\u52302015\u5e74\u4e4b\u95f4\u4e4b\u52a0\u606f\u5468\u671f\u7684\u91cd\u5927\u7a81\u7834\uff0c\u800c\u53ef\u80fd\u4f7f\u5f53\u524d\u5468\u671f\u66f4\u50cf1994\u5e74\u3002\u90a3\u4e00\u5e74\uff0c\u5728\u7ecf\u5386\u4e86\u957f\u65f6\u95f4\u7684\u4f4e\u7a33\u5b9a\u5229\u7387\u4e4b\u540e\uff0c\u5f53\u65f6\u7684\u4e3b\u5e2d<strong>\u827e\u4f26\u00b7\u683c\u6797\u65af\u6f58<\/strong>\uff08Alan Greenspan\uff09\u9886\u5bfc\u4e0b\u7684\u7f8e\u8054\u50a8\u5728\u4e00\u5e74\u5185\u5c06\u5229\u7387\u63d0\u9ad8\u4e863\u4e2a\u767e\u5206\u70b9\u3002<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u8fd9\u79cd\u51fa\u4e4e\u610f\u6599\u7684\u8fc5\u901f\u6536\u7d27\u5bf9\u503a\u5238\u4ef7\u683c\u7684\u6253\u51fb\u6bd4\u6218\u540e\u65f6\u671f\u51e0\u4e4e\u4efb\u4f55\u5176\u4ed6\u4e3e\u63aa\u90fd\u8981\u5927\u3002\u52a0\u5229\u798f\u5c3c\u4e9a\u5dde\u6a59\u53bf\uff08Orange County\uff09\u7834\u4ea7\uff0c\u58a8\u897f\u54e5\u4f7f\u6bd4\u7d22\u8d2c\u503c\uff0c\u7834\u574f\u4e86\u5176\u7ecf\u6d4e\u3002\u7531\u4e8e\u62c5\u5fc3\u7ecf\u6d4e\u53ef\u80fd\u9677\u5165\u8870\u9000\uff0c\u7f8e\u8054\u50a8\u57281995\u5e74\u9002\u5ea6\u5730\u964d\u4f4e\u4e86\u5229\u7387\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5f53<strong>\u683c\u6797\u65af\u6f58<\/strong>\u5148\u751f\u57282004\u5e74\u518d\u6b21\u51c6\u5907\u52a0\u606f\u65f6\uff0c\u4ed6\u91c7\u7eb3\u4e86<strong>\u4f2f\u5357\u514b<\/strong>\u5148\u751f\u7684\u5efa\u8bae\uff0c<strong>\u4f2f\u5357\u514b<\/strong>\u5148\u751f\u662f\u200b\u200b\u4e00\u4f4d\u6210\u5c31\u6590\u7136\u7684\u5b66\u8005\uff0c\u5f53\u65f6\u62c5\u4efb\u7f8e\u8054\u50a8\u7406\u4e8b\uff0c\u4ed6\u8bf4\uff0c\u5bf9\u7f8e\u8054\u50a8\u76ee\u6807\u548c\u610f\u56fe\u7684\u66f4\u660e\u786e\u7684\u6307\u5bfc\u53ef\u4ee5\u4f7f\u653f\u7b56\u66f4\u52a0\u6709\u6548\u3002<\/span><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-24.jpeg\" alt=\"\u4eba\u5728\u53a8\u623f\u91cc\n\n\u63cf\u8ff0\u5df2\u81ea\u52a8\u751f\u6210\" class=\"wp-image-12170\" width=\"529\" height=\"352\" srcset=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-24.jpeg 700w, https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-24-300x200.jpeg 300w\" sizes=\"auto, (max-width: 529px) 100vw, 529px\" \/><figcaption>1987\u5e74\u81f32006\u5e74\u62c5\u4efb\u7f8e\u8054\u50a8\u4e3b\u5e2d\u7684\u827e\u4f26\u00b7\u683c\u6797\u65af\u6f582013\u5e74\u5728\u5176\u529e\u516c\u5ba4\u3002&nbsp;<br>\u6444\u5f71\uff1aJ. Scott Applewhite \/ \u7f8e\u8054\u793e&nbsp;<\/figcaption><\/figure><\/div>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u6839\u636e\u5f53\u5e74\u7f8e\u8054\u50a8\u653f\u7b56\u4f1a\u8bae\u7684\u8bb0\u5f55\uff0c<strong>\u4f2f\u5357\u514b<\/strong>\u57282003\u5e74\u5bf9\u540c\u4e8b\u8bf4\uff1a\u201c\u6a21\u7cca\u6027\u6709\u5176\u7528\u5904\uff0c\u4f46\u4e3b\u8981\u662f\u5728\u6251\u514b\u7b49\u975e\u5408\u4f5c\u6e38\u620f\u4e2d\u3002\u201d \u201c\u8d27\u5e01\u653f\u7b56\u662f\u4e00\u79cd\u5408\u4f5c\u7684\u6e38\u620f\u3002\u5173\u952e\u662f\u8ba9\u91d1\u878d\u5e02\u573a\u7ad9\u5728\u6211\u4eec\u8fd9\u8fb9\uff0c\u8ba9\u4ed6\u4eec\u4e3a\u6211\u4eec\u505a\u4e00\u4e9b\u6211\u4eec\u7684\u5de5\u4f5c\u3002\u201d&nbsp;&nbsp;&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5728\u4e0b\u4e2a\u6708\u7684\u4f1a\u8bae\u4e0a\uff0c\u7f8e\u8054\u50a8\u5b98\u5458\u5c06\u53d1\u5e03\u65b0\u7684\u9884\u6d4b\uff0c\u663e\u793a\u4ed6\u4eec\u9884\u8ba1\u5c06\u52a0\u606f\u591a\u5c11\u3002\u5230\u76ee\u524d\u4e3a\u6b62\uff0c\u4ed6\u4eec\u7684\u76ee\u6807\u4e00\u76f4\u662f\u5c06\u5b83\u4eec\u63d0\u9ad8\u5230 \u201c\u4e2d\u6027\u201d \u6c34\u5e73\uff0c\u5373\u65e2\u4e0d\u4f1a\u523a\u6fc0\u4e5f\u4e0d\u4f1a\u51cf\u7f13\u7ecf\u6d4e\u589e\u957f\u7684\u6c34\u5e73\u3002\u5b98\u5458\u4eec\u4f30\u8ba1\uff0c\u5f53\u901a\u80c0\u7387\u63a5\u8fd1\u7f8e\u8054\u50a82%\u7684\u76ee\u6807\u65f6\uff0c\u8fd9\u4e00\u6c34\u5e73\u57282%\u81f33%\u4e4b\u95f4\u3002\u8fd1\u5e74\u6765\u5219\u4e0d\u540c\uff0c\u5f53\u7136\u662f\u80cc\u79bb\u4e86<strong>\u4f2f\u5357\u514b<\/strong>\u5148\u751f\u7684\u6307\u5bfc\uff0c\u4ed6\u4eec\u80fd\u4ee5\u591a\u5feb\u7684\u901f\u5ea6\u5230\u8fbe\u8fd9\u4e2a\u76ee\u6807\uff0c\u4ee5\u53ca\u4ed6\u4eec\u662f\u5426\u4f1a\u8d70\u5f97\u66f4\u9ad8\uff0c\u4ecd\u7136\u662f\u60ac\u800c\u672a\u51b3\u7684\u95ee\u9898\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\">\u5b98\u5458\u4eec\u5e0c\u671b\u968f\u7740\u4f9b\u5e94\u95ee\u9898\u7684\u7f13\u89e3\u4ee5\u53ca\u9700\u6c42\u4ece\u53bb\u5e74\u4ef7\u683c\u5927\u5e45\u4e0a\u6da8\u7684\u5546\u54c1\u8f6c\u5411\u901a\u80c0\u4e0d\u90a3\u4e48\u6781\u7aef\u7684\u670d\u52a1\u4e1a\uff0c\u6574\u4f53\u901a\u80c0\u7387\u4f1a\u4e0b\u964d\u3002&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u6709\u76f8\u5f53\u591a\u7684\u5730\u65b9\u53ef\u80fd\u51fa\u9519\u3002\u7531\u4e8e\u5b58\u5728\u7f8e\u8054\u50a8\u65e0\u6cd5\u63a7\u5236\u7684\u56e0\u7d20\uff0c\u4f8b\u5982\u4fc4\u7f57\u65af\u5165\u4fb5\u4e4c\u514b\u5170\u5bfc\u81f4\u80fd\u6e90\u5e02\u573a\u52a8\u8361\uff0c\u6216\u4e9a\u6d32\u56e0\u761f\u75ab\u5927\u6d41\u884c\u5bfc\u81f4\u7684\u5c01\u9501\u800c\u5bfc\u81f4\u8fd0\u8f93\u5ef6\u8bef\u53d8\u5f97\u66f4\u7cdf\uff0c\u901a\u80c0\u53ef\u80fd\u4f1a\u5c45\u9ad8\u4e0d\u4e0b\u3002\u5373\u4f7f\u4eca\u5e74\u5546\u54c1\u4ef7\u683c\u5982\u9884\u671f\u653e\u7f13\uff0c\u5de5\u8d44\u548c\u79df\u91d1\u7684\u4e0a\u6da8\u4e5f\u53ef\u80fd\u4f7f\u901a\u80c0\u6301\u7eed\u4e0a\u5347\u52302023\u5e74\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\"><strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u76ee\u524d\u62d2\u7edd\u5c31\u653f\u7b56\u8def\u5f84\u63d0\u4f9b\u6240\u8c13\u7684\u524d\u77bb\u6027\u6307\u5bfc\uff0c<a href=\"https:\/\/www.wsj.com\/articles\/inflation-poses-risks-of-faster-less-predictable-fed-rate-increases-11642946403?mod=article_inline\" data-type=\"URL\" data-id=\"https:\/\/www.wsj.com\/articles\/inflation-poses-risks-of-faster-less-predictable-fed-rate-increases-11642946403?mod=article_inline\">\u56e0\u4e3a\u901a\u80c0\u524d\u666f\u5982\u6b64\u4e0d\u786e\u5b9a<\/a>\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u901a\u80c0\u7684\u4e0d\u786e\u5b9a\u6027\u548c\u7f8e\u8054\u50a8\u6307\u5f15\u7684\u7f3a\u4e4f\u6b63\u5728\u5bfc\u81f4\u503a\u5238\u5e02\u573a\u6ce2\u52a8\u5e45\u5ea6\u52a0\u5267\u3002\u76f4\u5230\u4e0a\u5468\u56db\uff0c\u5b98\u5458\u4eec\u90fd\u5728\u6de1\u5316\u4ece\u52a0\u606f\u534a\u4e2a\u70b9\u5f00\u59cb\u6216\u5728\u5b9a\u671f\u5b89\u6392\u7684\u653f\u7b56\u4f1a\u8bae\u4e4b\u95f4\u91c7\u53d6\u884c\u52a8\u7684\u524d\u666f\u3002&nbsp;<\/span><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-26.jpeg\" alt=\"\u7537\u4eba\u4f38\u51fa\u624b\n\n\u4e2d\u5ea6\u53ef\u4fe1\u5ea6\u63cf\u8ff0\u5df2\u81ea\u52a8\u751f\u6210\" class=\"wp-image-12172\" width=\"521\" height=\"348\" srcset=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-26.jpeg 639w, https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-26-300x200.jpeg 300w\" sizes=\"auto, (max-width: 521px) 100vw, 521px\" \/><figcaption>\u5723\u8def\u6613\u65af\u8054\u90a6\u50a8\u5907\u94f6\u884c\u603b\u88c1\u8a79\u59c6\u65af<strong>\u00b7<\/strong>\u5e03\u62c9\u5fb7&nbsp;&nbsp;&nbsp;<br>&nbsp; \u6444\u5f71\uff1aEdgar Su \/ \u8def\u900f\u793e<\/figcaption><\/figure><\/div>\n\n\n\n<p>\u5723\u8def\u6613\u65af\u8054\u90a6\u50a8\u5907\u94f6\u884c\u603b\u88c1<strong>\u8a79\u59c6\u65af\u00b7\u5e03\u62c9\u5fb7<\/strong>\uff08James Bullard\uff092\u67087\u65e5\u5728\u63a5\u53d7\u91c7\u8bbf\u65f6\u8bf4\uff1a\u201c\u5982\u679c\u6211\u4eec\u53ef\u4ee5\u907f\u514d\uff0c\u6211\u5b81\u613f\u4e0d\u90e8\u7f72\u90a3\u79cd\u4e1c\u897f\uff0c\u5230\u76ee\u524d\u4e3a\u6b62\uff0c\u6211\u8ba4\u4e3a\u6211\u4eec\u5df2\u7ecf\u5bf9\u901a\u80c0\u610f\u5916\u505a\u51fa\u4e86\u5e73\u7a33\u7684\u53cd\u5e94\u3002\u201d<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5728\u5468\u56db\u7684\u62a5\u544a\u79f0\u901a\u80c0\u7387\u8fdb\u4e00\u6b65\u6500\u5347\u81f37.5%\u768440\u5e74\u9ad8\u70b9\u540e\uff0c<strong>\u5e03\u62c9\u5fb7<\/strong>\u5148\u751f\u6539\u53d8\u4e86\u4ed6\u7684\u4fe1\u606f\uff0c\u544a\u8bc9\u5f6d\u535a\u65b0\u95fb\u793e\uff0c\u4ed6\u503e\u5411\u4e8e\u5728\u672a\u6765\u51e0\u4e2a\u6708\u5185\u66f4\u5927\u80c6\u5730\u52a0\u606f\u534a\u4e2a\u767e\u5206\u70b9\u6216\u5728\u4f1a\u8bae\u671f\u95f4\u52a0\u606f\u3002\u4ed6\u7684\u8a00\u8bba\u52a0\u901f\u4e86\u81ea2009\u5e74\u4ee5\u6765\u4e24\u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u7684\u6700\u5927\u5355\u65e5\u6da8\u5e45\uff0c\u5e76\u5bfc\u81f4\u671f\u8d27\u5e02\u573a\u62bc\u6ce8\u4e0b\u4e2a\u6708\u5c06\u4e0a\u6da80.5\u4e2a\u767e\u5206\u70b9\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5982\u679c<strong>\u9c8d\u5a01\u5c14<\/strong>\u548c\u4ed6\u7684\u540c\u4e8b\u505a\u51fa\u8fd9\u6837\u7684\u4e3e\u52a8\uff0c\u4ed6\u4eec\u53ef\u80fd\u4f1a\u56e0\u4e3a\u6050\u614c\u800c\u53d7\u5230\u6279\u8bc4\u3002\u5982\u679c\u4ed6\u9009\u62e9\u8f83\u5c0f\u7684\u6da8\u5e45\uff0c\u4ed6\u53ef\u80fd\u4f1a\u56e0\u4e3a\u6ca1\u6709\u8db3\u591f\u91cd\u89c6\u901a\u80c0\u800c\u53d7\u5230\u6279\u8bc4\u3002<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u57282009\u5e74\u81f32012\u5e74\u671f\u95f4\u7ebd\u7ea6\u8054\u50a8\u5e02\u573a\u4e8b\u52a1\u90e8\u7684\u8d1f\u8d23\u4eba<strong>\u5e03\u8d56\u6069\u00b7\u8428\u514b<\/strong>\uff08Brian Sack\uff09\u8868\u793a\uff1a\u201c\u7406\u60f3\u60c5\u51b5\u4e0b\uff0c\u7f8e\u8054\u50a8\u4f1a\u7ad9\u51fa\u6765\u5bf9\u653f\u7b56\u4fe1\u606f\u65bd\u52a0\u63a7\u5236\u3002\u201d 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\/><figcaption>\u4e0a\u5468\uff0c\u7ebd\u7ea6\u5e03\u9c81\u514b\u6797\u4e00\u5bb6\u5546\u5e97\u7684\u987e\u5ba2\u3002<br>\u6444\u5f71\uff1aMickael Nagle \/ Zuma Press&nbsp;<\/figcaption><\/figure><\/div>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5206\u6790\u5e08\u4eec\u8868\u793a\uff0c\u5e02\u573a\u5bf9\u7f8e\u8054\u50a8\u53ef\u80fd\u5728\u4e24\u6b21\u4f1a\u8bae\u4e4b\u95f4\u52a0\u606f\u7684\u731c\u6d4b\u5728\u5e03\u62c9\u5fb7\u5148\u751f\u53d1\u8868\u8bb2\u8bdd\u540e\u6108\u6f14\u6108\u70c8\uff0c\u5f15\u53d1\u4e86\u4eba\u4eec\u5bf9\u653f\u7b56\u65e0\u6cd5\u5f88\u597d\u5730\u6291\u5236\u7ecf\u6d4e\u548c\u964d\u4f4e\u901a\u80c0\u7684\u62c5\u5fe7\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\">\u4ee4\u5176\u5ba1\u8bae\u590d\u6742\u5316\u7684\u662f\uff0c\u7f8e\u8054\u50a8\u53ef\u4ee5\u901a\u8fc7\u7f29\u51cf\u5176\u503a\u5238\u6301\u6709\u91cf\u6765\u6536\u7d27\u653f\u7b56\u7684\u65b9\u6cd5\uff0c\u56e0\u6b64\u6536\u7f29\u7684\u65b9\u6cd5\u4e0d\u6b62\u4e00\u79cd\uff0c\u81ea2020\u5e743\u6708\u4ee5\u6765\uff0c\u7f8e\u8054\u50a8\u7684\u503a\u5238\u6301\u6709\u91cf\u5df2\u7ffb\u4e86\u4e00\u756a\u591a\uff0c\u8fbe\u5230\u4e869\u4e07\u4ebf\u7f8e\u5143\u3002&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u5f53\u7f8e\u8054\u50a8\u57282017\u5e74\u81f32019\u5e74\u671f\u95f4\u51cf\u6301\u503a\u5238\u65f6\uff0c\u5b83\u662f\u88ab\u52a8\u5730\u901a\u8fc7\u5141\u8bb8\u4e00\u5b9a\u6570\u91cf\u7684\u8bc1\u5238\u5230\u671f\u800c\u4e0d\u6bcf\u4e2a\u6708\u66f4\u6362\u5b83\u4eec\u3002\u4e00\u4e9b\u7f8e\u8054\u50a8\u5b98\u5458\u5bf9\u5728\u5168\u7403\u6700\u91cd\u8981\u7684\u91d1\u878d\u5e02\u573a \u2014\u2014 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has-black-color\">\u5927\u591a\u6570\u7f8e\u8054\u50a8\u5b98\u5458\u5bf9\u6b64\u90fd\u5f88\u51b7\u6de1\uff0c\u81f3\u5c11\u76ee\u524d\u662f\u8fd9\u6837\u3002<strong>\u8428\u514b<\/strong>\u5148\u751f\u8bf4\uff1a\u201c\u5f53\u4f60\u4ee5\u5176\u4ed6\u65b9\u5f0f\u5927\u5e45\u8c03\u6574\u653f\u7b56\u65f6\uff0c\u5f15\u5165\u8d44\u4ea7\u51fa\u552e\u53ea\u4f1a\u4f7f\u8def\u5f84\u590d\u6742\u5316\u3002\u201d \u201c\u6709\u706b\u4e0a\u6d47\u6cb9\u7684\u98ce\u9669\u3002\u8d44\u4ea7\u8d1f\u503a\u8868\u662f\u4e00\u79cd\u5f71\u54cd\u4ecd\u4e0d\u786e\u5b9a\u7684\u5de5\u5177\uff0c\u4f60\u4e0d\u5e94\u8be5\u628a\u5b83\u63a8\u52a8\u5f97\u592a\u7d27\u3002\u201d&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u76ee\u524d\uff0c\u8fd9\u4f3c\u4e4e\u4e5f\u662f\u7f8e\u8054\u50a8\u7684\u4e3b\u6d41\u89c2\u70b9\u3002<strong>\u9c8d\u5a01\u5c14<\/strong>\u5148\u751f\u4e0a\u4e2a\u6708\u8868\u793a\uff0c\u4ed6\u5e0c\u671b\u8be5\u8ba1\u5212\u5728\u540e\u53f0\u8fd0\u884c\u3002\u5b83\u7684\u529f\u80fd\u66f4\u50cf\u662f\u4e00\u4e2a\u4e50\u961f\u4e2d\u7684\u8282\u594f\u90e8\u5206\uff0c\u5982\u679c\u7f8e\u8054\u50a8\u60f3\u8981\u8c03\u6574\u653f\u7b56\uff0c\u5b83\u53ef\u4ee5\u4e0a\u8c03\u6216\u4e0b\u8c03\u57fa\u51c6\u5229\u7387\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u7b3c\u7f69\u5728\u8fd9\u4e2a\u95ee\u9898\u4e4b\u4e0a\u7684\u662f\u5e02\u573a\u7684\u53cd\u5e94\u3002\u80a1\u7968\u3001\u516c\u53f8\u503a\u5238\u548c\u623f\u5730\u4ea7\u90fd\u8fbe\u5230\u4e86\u5386\u53f2\u6700\u9ad8\u4f30\u503c\uff0c\u90e8\u5206\u539f\u56e0\u662f\u5047\u8bbe\u5229\u7387\u591a\u5e74\u6765\u5c06\u4fdd\u6301\u975e\u5e38\u4f4e\u7684\u6c34\u5e73\u3002\u5c3d\u7ba1\u5bb6\u5ead\u501f\u8d37\u5360\u7f8e\u56fd\u56fd\u5185\u751f\u4ea7\u603b\u503c\u7684\u6bd4\u4f8b\u8fdc\u4f4e\u4e8e2004-06\u5e74\u623f\u5730\u4ea7\u7e41\u8363\u671f\u95f4\u7684\u6c34\u5e73\uff0c\u4f46\u4f01\u4e1a\u503a\u52a1\u63a5\u8fd1\u5386\u53f2\u65b0\u9ad8\u3002&nbsp;<\/span>&nbsp;&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-22.jpeg\" alt=\"\u7a7f\u7740\u897f\u88c5\u7b14\u633a\u7684\u7537\u5b50\u4e0e\u914d\u5b57\n\n\u63cf\u8ff0\u5df2\u81ea\u52a8\u751f\u6210\" class=\"wp-image-12168\" width=\"572\" height=\"381\" srcset=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-22.jpeg 639w, https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2022\/02\/image-22-300x200.jpeg 300w\" sizes=\"auto, (max-width: 572px) 100vw, 572px\" \/><figcaption>\u53e4\u6839\u6d77\u59c6\u5408\u4f19\u4eba\u9996\u5e2d\u6295\u8d44\u5b98\u65af\u79d1\u7279\u00b7\u7c73\u7eb3\u5fb7<br>&nbsp; \u6444\u5f71\uff1aPatrick T. Fallon\/\u6cd5\u65b0\u793e\/\u76d6\u8482\u56fe\u7247\u793e&nbsp;<\/figcaption><\/figure><\/div>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u6295\u8d44\u516c\u53f8\u53e4\u6839\u6d77\u59c6\u5408\u4f19\u4eba\uff08Guggenheim Partners\uff09\u9996\u5e2d\u6295\u8d44\u5b98<strong>\u65af\u79d1\u7279\u00b7\u7c73\u7eb3\u5fb7<\/strong>\uff08Scott Minerd\uff09\u8868\u793a\uff1a\u201c\u6709\u4e9b\u4eba\u751f\u6d3b\u5728\u8fd9\u6837\u4e00\u4e2a\u4e16\u754c\u91cc\uff0c\u7f8e\u8054\u50a8\u79ef\u6781\u7684\u6536\u7d27 \u2014\u2014 \u8fd9\u91cc\u7684\u53ef\u80fd\u6027\u8d8a\u6765\u8d8a\u5927 \u2014\u2014 \u4e0d\u662f\u4ed6\u4eec\u53ef\u4ee5\u63a5\u53d7\u7684\u7ed3\u679c\uff0c\u6240\u4ee5\u4ed6\u4eec\u5047\u88c5\u4e0d\u4f1a\u53d1\u751f\u8fd9\u79cd\u60c5\u51b5\u3002\u201d \u201c\u90a3\u4e9b\u975e\u5e38\u771f\u5b9e\u7684\u5730\u65b9 \u2014\u2014 \u52a0\u5bc6\u8d27\u5e01\u3001\u4e0e\u6280\u672f\u76f8\u5173\u7684\u79c1\u52df\u80a1\u6743\u516c\u53f8 \u2014\u2014 \u53ef\u80fd\u4f1a\u9677\u5165\u4e25\u91cd\u56f0\u5883\u3002\u201d <\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u4ed6\u8bf4\uff0c\u4e00\u65e6\u5176\u4e2d\u4e00\u4e2a\u884c\u4e1a\u51fa\u73b0\u5927\u5e45\u4e0b\u8dcc\uff0c\u53ef\u80fd\u4f1a\u5f15\u53d1\u5e02\u573a\u5176\u4ed6\u9886\u57df\u7684\u6ce2\u52a8\u3002&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\"><strong>\u7f57\u68ee\u683c\u4f26<\/strong>\u5148\u751f\u8bf4\uff0c\u8fc7\u53bb\u516d\u4e2a\u6708\u91cc\uff0c\u7531\u4e8e\u4f9b\u5e94\u51b2\u51fb\u66f4\u52a0\u6301\u4e45\uff0c\u800c\u4e14\u5de5\u4eba\u8d62\u5f97\u4e86\u66f4\u9ad8\u7684\u5de5\u8d44\u4ee5\u62b5\u6d88\u66f4\u9ad8\u7684\u4ef7\u683c\uff0c\u7ecf\u6d4e\u8f6f\u7740\u9646\u7684\u524d\u666f\u5df2\u7ecf\u51cf\u5f31\u3002<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u4ed6\u8bf4\uff0c\u8fc5\u901f\u63d0\u9ad8\u5229\u7387\u4ee5\u89e3\u51b3\u901a\u8d27\u81a8\u80c0\u95ee\u9898\u4f1a\u589e\u52a0\u7ecf\u6d4e\u8870\u9000\u7684\u98ce\u9669\u3002\u201c\u5982\u679c\u4f60\u8fc5\u901f\u52a0\u606f\uff0c\u4f60\u5c31\u6ca1\u6709\u65f6\u95f4\u770b\u5230\u4f60\u5df2\u7ecf\u5b8c\u6210\u7684\u52a0\u606f\u662f\u5982\u4f55\u51cf\u7f13\u7ecf\u6d4e\u7684\u3002\u201d&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u4e00\u4e2a\u5371\u9669\u662f\u7f8e\u8054\u50a8\u9762\u4e34\u7740\u901a\u80c0\u53ef\u80fd\u53ea\u662f\u90e8\u5206\u9006\u8f6c\u8fd1\u671f\u6500\u5347\u7684\u56f0\u5883\u3002\u8fd9\u5c06\u4f7f\u5b98\u5458\u4eec\u88ab\u8feb\u5728\u63a5\u53d7\u66f4\u9ad8\u7684\u901a\u80c0\u7387\u6216\u8feb\u4f7f\u5931\u4e1a\u7387\u4e0a\u5347\u5230\u66f4\u9ad8\u6c34\u5e73\u4e4b\u95f4\u505a\u51fa\u9009\u62e9\uff0c\u4ece\u800c\u9762\u4e34\u7ecf\u6d4e\u4e0b\u6ed1\u7684\u98ce\u9669\u3002<\/span>&nbsp;<\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u7ebd\u7ea6\u8054\u50a8\u524d\u603b\u88c1<strong>\u5a01\u5ec9\u00b7\u675c\u5fb7\u5229<\/strong>\uff08William Dudley\uff09\u8bf4\uff1a\u201c\u4ed6\u4eec\u8bf4\u4ed6\u4eec\u5c06\u63a7\u5236\u901a\u80c0\uff0c\u6211\u76f8\u4fe1\u4ed6\u4eec\uff0c\u4f46\u4ed6\u4eec\u6697\u793a\u4e0d\u9700\u8981\u505a\u592a\u591a\u7684\u4e8b\u3002\u201d \u4ed6\u8ba4\u4e3a\u5229\u7387\u9700\u8981\u5347\u81f3\u53ef\u80fd\u4f1a\u635f\u5bb3\u5e02\u573a\u76843%\u62164%\u3002<\/span><\/p>\n\n\n\n<p style=\"font-size:17px\"><span class=\"has-inline-color has-black-color\">\u675c\u5fb7\u5229\u5148\u751f\u8bf4\uff0c\u5728\u90a3\u79cd\u73af\u5883\u4e0b\uff0c\u201c\u4f60\u7684\u53d7\u6b22\u8fce\u7a0b\u5ea6\u5c06\u8fdc\u4f4e\u4e8e\u7f8e\u8054\u50a8\u5728\u8fc7\u53bb\u5341\u5e74\u4e2d\u6240\u5904\u7684\u73af\u5883\u3002\u201d&nbsp;<\/span><\/p>\n\n\n\n<p style=\"font-size:15px\">\u672c\u6587\u51fa\u73b0\u57282022\u5e742\u670816\u65e5\u7684\u5370\u5237\u7248\u4e2d\uff0c\u6807\u9898\u4e3a\u300a\u7f8e\u8054\u50a8\u5e94\u5bf9\u901a\u80c0\u7684\u7f13\u6162\u8f6c\u5411\u300b\uff08The Fed\u2019s Slow Pivot To Tackling Inflation\uff09\u3002&nbsp;<\/p>\n\n\n\n<p style=\"font-size:15px\">\u539f\u6587\u94fe\u63a5\uff1a<a href=\"https:\/\/www.wsj.com\/articles\/behind-the-feds-slow-pivot-to-tackling-inflation-11644930180?st=wj1tbitw9fo5euk&amp;reflink=article_email_share\">https:\/\/www.wsj.com\/articles\/behind-the-feds-slow-pivot-to-tackling-inflation-11644930180?st=wj1tbitw9fo5euk&amp;reflink=article_email_share<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/nacr.info\/WordPress\/wp-content\/uploads\/2021\/05\/image-34-868x1024.png\" alt=\"\u6b64\u56fe\u7247\u7684alt\u5c5e\u6027\u4e3a\u7a7a\uff1b\u6587\u4ef6\u540d\u4e3aimage-34-868x1024.png\"\/><\/figure>\n\n\n\n<p id=\"block-10c166ca-21fc-4954-9251-11592c752d40\" style=\"font-size:18px\"><strong><span class=\"has-inline-color has-vivid-red-color\">\u6350\u6b3e\u65b9\u5f0f\uff1a<\/span><\/strong>\uff08\u8bf7\u6ce8\u660e\u60a8\u7684\u59d3\u540d\u548c\u7535\u90ae\uff0c\u4ee5\u4fbf\u6211\u4eec\u5bc4\u9001\u6536\u636e\uff09\uff1a<br>1\uff09Zelle: nacr2021@gmail.com<br>2\uff09PayPal: <a 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777<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u4f5c\u8005\uff1a\u9646\u6587\u79be \/ 2022.02.17\u53d1\u7a3f\uff1a2022.02.18 \u5728\u6628\u5929\uff082\/16\uff09\u7684\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u4e0a\u6709\u4e00\u7bc7\u91cd [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":12176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-12167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news_review"],"_links":{"self":[{"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/posts\/12167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/comments?post=12167"}],"version-history":[{"count":3,"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/posts\/12167\/revisions"}],"predecessor-version":[{"id":12180,"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/posts\/12167\/revisions\/12180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/media\/12176"}],"wp:attachment":[{"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/media?parent=12167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/categories?post=12167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nacr.info\/WordPress\/index.php\/wp-json\/wp\/v2\/tags?post=12167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}