Easing (Easing (QE) is a monetary policy, which mainly refers to the practice of government bonds and banking financial assets through open markets. Quantitative easing directly leads to the increase in currency supply in the market, which can be regarded as "printing money" in disguise. The improvement of market liquidity can reduce interest, and the low -interest environment provides an excellent investment environment for the development of the real economy. Therefore, after the financial crisis broke out in the United States in 2008, the United States has launched multiple rounds of quantitative easing to stimulate economic development.
mainly refers to the central bank's policy of zero interest rate or approximate zero interest rate policy, and increased the supply of basic currency by purchasing medium- and long -term bonds such as government bonds, and injecting a large amount of liquid currency in the market. Different from traditional tools such as interest rate leverage, quantitative wide loosening is regarded as an unconventional tool. Comparing the daily transactions made by the central bank in the open market for short -term government bonds, the government bonds involved in the quantitative easing policy are not only much greater, but also the cycle is longer.
In the case of normal economic development, the central bank generally uses the short -term securities of the market to fine -tune interest rates through the short -term securities of purchasing the market, so as to adjust the interest rate to the established target interest rate. Its regulation goals are locked as long -term low interest rates. Central banks of various countries continue to inject liquidity into the banking system and put a lot of currency to the market. That is, under the quantitative loose, the central bank's monetary policy on the economy is not fine -tuned, but a dose of medicine.
Since the implementation of QE from the Federal Reserve, the essence of the Fed's idea of reversing the economic downturn is to invest a large amount of currency to the market in a short period of time, forming "wealth overflow benefits", and then expect to be transmitted to the real economy field to promote the US economy The final recovery.
but its essence is the old road of consumption to boost the economy. This is inconsistent with the reform of the "re -industrialization" proposed by the Obama government after coming to power. The economy is just a temporary move from the edge of further deterioration. Of course, from the perspective of the Federal Reserve, after all, the impact of monetary policy on the economy is limited, and the Fed's energy is enough to achieve it today. However, if the foundation of the physical economy will not be repaired and developed, even if the future loss rate has reached the Fed's goal, it can only be the pavement of the outbreak of the next round of economic crisis.
Since the international financial crisis, especially since the Obama administration came to power, the United States has adopted a series of economic policy measures to alleviate the crisis and promote economic recovery, and also focuses on solving the long -term problems of the US economy. Starting it Adjustment of economic structure. The Obama government has adopted a series of measures such as supporting and encouraging scientific and technological innovation, promoting expansion, promoting "re -industrialization", strengthening intervention in economic activities, and promoting the reform of financial supervision.
The problem of deep economic structure in the United States is that its economic structure and growth model have long -term serious problems, and it has reached a unsustainable level. Trade imbalances, especially imports such as imports, etc. At the same time, the demand for consumers' significant increase is mainly to be met by imports.
The economic characteristics of the virtual economy represented by financial derivatives are far greater than the real economy. Excessive expansion of the virtual economy is easy to form a bubble, disturbing financial order, and impacting the normal operation and development of the real economy.
Since the launch of QE, although the economic data of the United States has performed differently, the two main lines are very clear, that is, the recovery of the real estate market and the late employment market. This is precisely the best reflection of the short -term consumption recovery brought by "wealth overflow" and the "re -industrialization".
Easing (Easing (QE) is a monetary policy, which mainly refers to the practice of government bonds and banking financial assets through open markets. Quantitative easing directly leads to the increase in currency supply in the market, which can be regarded as "printing money" in disguise. The improvement of market liquidity can reduce interest, and the low -interest environment provides an excellent investment environment for the development of the real economy. Therefore, after the financial crisis broke out in the United States in 2008, the United States has launched multiple rounds of quantitative easing to stimulate economic development.
mainly refers to the central bank's policy of zero interest rate or approximate zero interest rate policy, and increased the supply of basic currency by purchasing medium- and long -term bonds such as government bonds, and injecting a large amount of liquid currency in the market. Different from traditional tools such as interest rate leverage, quantitative wide loosening is regarded as an unconventional tool. Comparing the daily transactions made by the central bank in the open market for short -term government bonds, the government bonds involved in the quantitative easing policy are not only much greater, but also the cycle is longer.
In the case of normal economic development, the central bank generally uses the short -term securities of the market to fine -tune interest rates through the short -term securities of purchasing the market, so as to adjust the interest rate to the established target interest rate. Its regulation goals are locked as long -term low interest rates. Central banks of various countries continue to inject liquidity into the banking system and put a lot of currency to the market. That is, under the quantitative loose, the central bank's monetary policy on the economy is not fine -tuned, but a dose of medicine.
Since the implementation of QE from the Federal Reserve, the essence of the Fed's idea of reversing the economic downturn is to invest a large amount of currency to the market in a short period of time, forming "wealth overflow benefits", and then expect to be transmitted to the real economy field to promote the US economy The final recovery.
but its essence is the old road of consumption to boost the economy. This is inconsistent with the reform of the "re -industrialization" proposed by the Obama government after coming to power. The economy is just a temporary move from the edge of further deterioration. Of course, from the perspective of the Federal Reserve, after all, the impact of monetary policy on the economy is limited, and the Fed's energy is enough to achieve it today. However, if the foundation of the physical economy will not be repaired and developed, even if the future loss rate has reached the Fed's goal, it can only be the pavement of the outbreak of the next round of economic crisis.
Since the international financial crisis, especially since the Obama administration came to power, the United States has adopted a series of economic policy measures to alleviate the crisis and promote economic recovery, and also focuses on solving the long -term problems of the US economy. Starting it Adjustment of economic structure. The Obama government has adopted a series of measures such as supporting and encouraging scientific and technological innovation, promoting expansion, promoting "re -industrialization", strengthening intervention in economic activities, and promoting the reform of financial supervision.
The problem of deep economic structure in the United States is that its economic structure and growth model have long -term serious problems, and it has reached a unsustainable level. Trade imbalances, especially imports such as imports, etc. At the same time, the demand for consumers' significant increase is mainly to be met by imports.
The economic characteristics of the virtual economy represented by financial derivatives are far greater than the real economy. Excessive expansion of the virtual economy is easy to form a bubble, disturbing financial order, and impacting the normal operation and development of the real economy.
Since the launch of QE, although the economic data of the United States has performed differently, the two main lines are very clear, that is, the recovery of the real estate market and the late employment market. This is precisely the best reflection of the short -term consumption recovery brought by "wealth overflow" and the "re -industrialization".
Quantitative easing policy is a large number of money printing