With global growth weakening, net exports are unlikely to improve robustly, even with a weaker dollar. Moreover, many major central banks are implementing variants of QE alongside the Fed, dampening the effect of the Fed’s actions on the dollar’s value.
货币渠道同样也存在缺陷。当全球增长减弱之时，即便美元贬值也难以使净出口出现极大改善。此外，许多主要中央银行都在和美联储一样实施某些量化宽松政策的变体，抵消了美联储行动对美元价值的影响。