金融危机背景下美联储的非常规货币政策操作

面对金融危机,关联储不仅非常规地使用传统货币政策工具,而且还采取大量激进的非常规措施,通过购买各种证券向市场注入流动性以及运用信息沟通引导市场预期降低长期借贷成本的方式缓解金融市场紧缩局面。非常规货币政策是应对非常时期的非常措施,随着经济的复苏,各国经济刺激政策如何寻找安全退出路径是这一时期全球央行的主要任务。

Changes of Fed monetary policy tools in the global financial crisis

Face the financial crisis, major central banks not only unconventionally use of the traditional monetary policy tools, but also take a large number of radical unconventional monetary policy tools, including quantitative easing, credit easing and central bank communication. Unconventional monetary policy tools are the extraordinary measures during unusual times. With the economic recovery, how to find a safe exit strategy of easy monetary policy is the main task of the central banks.