Some at the Fed – Chairman Ben Bernanke and Vice Chair Janet Yellen – argue that policymakers can pursue both goals: the Fed will raise interest rates slowly to provide economic stability (strong income and employment growth and low inflation) while preventing financial instability (credit and asset bubbles stemming from high liquidity and low interest rates) by using macro-prudential supervision and regulation of the financial system. In other words, the Fed will use regulatory instruments to control credit growth, risk-taking, and leverage.
主席伯南克和副主席珍妮特·耶伦等联储官员认为决策者可以同时实现这两大目标：美联储将缓慢提高利率，通过对金融体系的宏观审慎监管在防止金融动荡（高流动性和低利率引发的信贷和资产泡沫）的同时确保经济稳定（强劲的收入就业增长和低通胀）。换言之，美联储将运用监管手段来控制信贷增长、风险偏好和杠杆应用。