This justifies the US Federal Reserve’s gradual exit from ultra-loose policies. Somewhat surprisingly, the Fed’s reduction of its monthly asset purchases has been accompanied so far by dollar weakness against the euro, which is fostering external adjustment.
这就是美联储逐渐退出其极度宽松政策的正确性所在。有些令人惊奇的是，到目前为止，美联储减少其月度资产购买量的动作导致了美元对欧元的贬值，而这刺激了外部调整。但是，放眼未来，这或许会出现变化。如果仍然只有美联储在收回货币刺激，并且债券收益率进一步上升，美元几乎肯定会出现升值。