Recently, the Fed expressed its intent to keep policy rates low for a long time – until employment picks up strongly. The hope is that if investors consider this announcement credible, long-term interest rates will come down further, encouraging spending.
最近，美联储表达了将政策利率长期保持低水平，直到就业率重拾强势的意图。美联储的算盘是，如果投资者认为它的政策是有效的，那么长期利率会进一步下降，从而刺激支出。但是，长期债券利率的即期效应并不令人振奋。