Fed Chairman Ben Bernanke has recently emphasized the importance of an additional channel: the confidence channel, through which the Fed’s commitment to maintaining generous monetary conditions for longer could improve private spending. The issue is how substantial and durable such effects will be.
美联储主席本·伯南克最近强调了另一条额外渠道的重要性：信心渠道，美联储维持大量货币供应状况的承诺可以改善私人消费。问题是这些措施就能有多大实质性，又能维持多长时间？在一个不断去杠杆化，充满宏观不确定因素，劳动市场增长疲弱以及财政拖累的现状下，信心是极为脆弱的。