《货币银行学》课程教学资源（文献资料）1伯南克——美联储将在需要时“采取行动”

伯南克：美联储将在需要时“采取行动”英国《金融时报》2007年9月3日美联储(Federal Reserve)BenBernankesaidonFridaytheFederal主席伯南克(BenReserve would act as needed to easeBernanke)上周五表示，美the impact of recentmarket turmoil on联储将在需要的时候采取theeconomy,inaspeechwidely行动，缓解近来市场动荡对interpreted as opening the door to经济的影响。人们对上述讲possibleinterestrate cuts.话的普遍理解为：它开启了降息的可能性。大多数分析师认为，上述讲Most analysts viewed the remarks as a话是一种信号，表明美联储sign that the Fed is virtually certain to实际上已确定将在9月18lowerrates atits September 18policy日召开的政策会议上下调meeting, although the Fed chairman,利率，只不过伯南克没有在who said the effects of market turmoil这方面做出任何承诺。他表remained uncertain,did not make any示，市场动荡（对经济）的commitment to do so.影响仍未确定。这是自大约3周前流动性Inhis most detailedremarksonthe危机开始加剧以来，伯南克liquiditycrisis sinceitbegantointensify最为具体的讲话。他表示，some three weeks ago, Mr Bernanke央行不会仅仅为了给投资made it clear the central bank would not者纤困而降息。他表示：“美cut rates merely to bail out investors. He联储没有责任保护银行和said:"It is nottheresponsibilityof the投资者免受他们自己财务Federal Reserve-nor would it be决定所造成后果的影响，这appropriate- to protect lenders and样做也不合适。”investors from the consequences of theirfinancialdecisions."但他补充称，金融市场的走But he added that developments in势“可能对市场之外的许多financialmarkets“canhavebroad领域产生广泛的经济影economiceffectsfeltbymanyoutsidethe响。”markets".在怀俄明州杰克逊霍尔年TheFedwould"actas neededto limitthe会上，伯南克向各国央行行adverse effects on the broader economy长表示，美联储将“在需要that may arise from the disruptions in的时候采取行动，抑制金融markets,MrBernanketoldcentral市场混乱可能给更广泛的bankersattheirannualretreatinJackson经济带来的负面影响。”Hole, Wyoming

伯南克：美联储将在需要时“采取行动” 英国《金融时报》2007 年 9 月 3 日 美联储(Federal Reserve) 主席伯南克 (Ben Bernanke)上周五表示，美 联储将在需要的时候采取 行动，缓解近来市场动荡对 经济的影响。人们对上述讲 话的普遍理解为：它开启了 降息的可能性。 Ben Bernanke said on Friday the Federal Reserve would act as needed to ease the impact of recent market turmoil on the economy, in a speech widely interpreted as opening the door to possible interest rate cuts. 大多数分析师认为，上述讲 话是一种信号，表明美联储 实际上已确定将在 9 月 18 日召开的政策会议上下调 利率，只不过伯南克没有在 这方面做出任何承诺。他表 示，市场动荡（对经济）的 影响仍未确定。 Most analysts viewed the remarks as a sign that the Fed is virtually certain to lower rates at its September 18 policy meeting, although the Fed chairman, who said the effects of market turmoil remained uncertain, did not make any commitment to do so. 这是自大约 3 周前流动性 危机开始加剧以来，伯南克 最为具体的讲话。他表示， 央行不会仅仅为了给投资 者纾困而降息。他表示：“美 联储没有责任保护银行和 投资者免受他们自己财务 决定所造成后果的影响，这 样做也不合适。” In his most detailed remarks on the liquidity crisis since it began to intensify some three weeks ago, Mr Bernanke made it clear the central bank would not cut rates merely to bail out investors. He said: “It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions.” 但他补充称，金融市场的走 势“可能对市场之外的许多 领 域 产 生 广泛 的 经 济 影 响。” But he added that developments in financial markets “can have broad economic effects felt by many outside the markets”. 在怀俄明州杰克逊霍尔年 会上，伯南克向各国央行行 长表示，美联储将“在需要 的时候采取行动，抑制金融 市场混乱可能给更广泛的 经济带来的负面影响。” The Fed would “act as needed to limit the adverse effects on the broader economy that may arise from the disruptions in markets”, Mr Bernanke told central bankers at their annual retreat in Jackson Hole, Wyoming

伯南克发表上述言论之际，MrBernanke'ssremarkscameas美国总统布什(GeorgeW.President George W. Bush announcedBush)宣布了一些举措，通measurestohelpstrugglinghomeowners过扩充美国联邦住房管理refinancethroughmortgagesan局(FederalHousingexpansionoftheFederalHousingAdministration)和一些税Administrationandtaxchanges.收变动，帮助处于困境中的房屋所有者为抵押贷款进行再融资。但布什坚称，政府不会出手ButMr Bush insisted therewould be no纤困，来解决次级抵押贷款bail-outtosolvethegovernment危机。subprime mortgage crisis

伯南克发表上述言论之际， 美国总统布什(George W. Bush)宣布了一些举措，通 过扩充美国联邦住房管理 局 (Federal Housing Administration) 和 一 些 税 收变动，帮助处于困境中的 房屋所有者为抵押贷款进 行再融资。 Mr Bernanke’s remarks came as President George W. Bush announced measures to help struggling homeowners refinance mortgages through an expansion of the Federal Housing Administration and tax changes. 但布什坚称，政府不会出手 纾困，来解决次级抵押贷款 危机。 But Mr Bush insisted there would be no government bail-out to solve the subprime mortgage crisis