NEW HAVEN – As the US Federal Reserve attempts to exit from its unconventional monetary policy, it is grappling with the disparity between the policy’s success in preventing economic disaster and its failure to foster a robust recovery. To the extent that this disconnect has led to mounting financial-market excesses, the exit will be all the more problematic for markets – and for America’s market-fixated monetary authority.
纽黑文&mdash;美联储试图退出其非常规货币政策，这一政策面临着一对矛盾：它成功地阻止了经济灾难，但没能铸就强健的经济复苏。由于这一矛盾已经导致了金融市场过度，退出政策将会给市场以及依赖市场的美国货币当局造成相当大的问题。