美联储达利强调资产负债表沟通挑战 -- 市场评论

投资观察
Nov 13, 2025

美国旧金山联邦储备银行行长玛丽·达利承认美联储的资产负债表面临诸多批评。因此,她在爱尔兰都柏林的一次演讲中表示,美联储必须更加清晰地传达其在债券持有方面的行动和意图。“公众常常不清楚[中央银行的资产负债表]为何会发生变化,”达利说。“这使得沟通变得至关重要,必须承认其多重用途,并在可能的情况下指出每种用途如何推动资产负债表的增长。”她的评论发布之际,美联储正处于为期三年的资产负债表缩减计划的结束阶段,并面临再次购入债券的潜在需要,这不是为了刺激经济,而是为了确保银行准备金的供给与金融系统的需求相匹配。

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