The Fed, as the de facto global lender of last resort, can improve significantly the effectiveness of Asia’s financial safety nets by establishing currency-swap arrangements with emerging economies’ central banks during the policy-reversal process.
美联储作为事实上的全球最后贷款人，可以在政策逆转过程中通过与新兴经济体央行建立货币互换机制，从而显着提高亚洲金融安全网的有效性。