Nzira iyo Federal Federal's Asset Purchase Program Works
Kana Fed ichitsvaga chikwata ichikwira, inotengesera mabhengi. Izvozvo zvinozivikanwa sechinangwa chekubhadhara mari . Inononoka kutengesa uye kuwedzera kwehupfumi.
Apo inoda kuderedza mitengo, inotenga zvigumisiro. Izvozvo zvinozivikanwa sekuwedzera kwematongerwo emari . Chinangwa chayo ndechekuderedza kusakosha kwemabasa uye kukurudzira hupfumi. IFed inotarisa chinangwa chayo chechibereko chekudhara pamusangano wayo weGreen Open Market Committee .
Kuzarura Kushanda Kwemashamba Kunobatsira Sei Kuda Kwekuda
Kana Fed inotenga zvikwereti kubva kubhangi , inowedzera chikwereti kumabhengi emari. Kunyange zvazvo isiri mari chaiyo, inorapwa seyakadaro uye ine mamiriro akafanana. Izvo zvakafanana nebhadharo yakananga yaungagamuchira kubva kune waunoshandira mukutarisa kwekombiki yako.
Ndeipi iyo Fed inowana mari yekubudisa chikwereti? Sebhanga guru reAmerica, rine simba rakasiyana-siyana yekugadzira chikwereti ichi kubva mumhepo ine simba. Ndizvo zvinoreva vanhu pavanotaura kuti Federal Reserve inodhinda mari .
Mabhandi anoedza kukweretesa zvakanyanya sezvinobvira kuti awedzere mari yavo. Kana zvaiva kumabhangi, vangadai vachizvikweretesa zvose. Saka, Fed inoda kuti varambe vari 10 kubva muzana yezvavanenge vachichengetedza pavanovhara usiku humwe, saka vane mari yakakwana yezvokutengeserana mangwana.
Izvi zvinozivikanwa sezvokuchengetedzwa zvinodiwa . Inofanira kuchengetwa kubhishopu yebazi re Federal Federal branch kana kuti mari mumari yebhangi. Kunze kwekunge kune bhanhire rinomhanya, izvi zvinopfuura zvakakwana kuti zvivhare mabhenji akawanda 'kuregera zuva nezuva.
Kuti asangane nechisarudzo chinodiwa, mabhandi anokweretesa kubva kune umwe kune humwe husiku humwe huwandu hwekuda, hunozivikanwa sehuwandu hwemari inotengeswa .
Ichi chiyero chinoderera zvichienderana nekuti mabhanji akawanda anokweretesa sei. Mari iyo yavakwereta uye iyo inopa chikwereti usiku humwe inonzi mari yekudyisa .
Apo Dhesi inowedzera chikwereti chebhangi nekutenga zvigadziro, inopa bhangi kuwedzera mari yekukweretesa kune dzimwe mabhangi. Izvi zvinokonzera mari yakadyiwa mari yakaderera, sezvo bhandi iri kuedza kubudisa ichi chikwata chekare. Kana pasina mari yakawanda yekukweretesa, mabhanhire achasimudza mari yakakosha mari.
Izvi zvakasimudza mari inotengesa zvinokonzera kushandiswa kwemazuva mashoma. Mabhanji anotengesa mumwe kune imwe nguva kwenguva refu. Izvi zvinozivikanwa seRibor chiyero. Inoshandiswa sechikonzero chekushanduka kwezvikwereti zvakasiyana-siyana, kusanganisira zvikwereti zvemotokari, kugadziriswa-kuwedzerwa kwemari , uye chikwereti chekwereti chido. Inoshandiswawo kuisa mukana wokutanga , iyo ndiyo mabhengi anotenga vatengi vavo. Nguva yakareba kwenguva yakareba uye yakasarudzwa inodarika zvakanyanya pamakore gumi emakore . Iko mari yacho yakakwirira zvishoma kudarika hupfumi huripo .
Vhura Mashamba Ekutengeswa uye Nhamba Yekutengesa
Mukupindura kumatambudziko emari muna 2008, FOMC yakaderedza mari yakaderedzwa yehuwandu kusvika kune-zero. Mushure meizvozvo, Fed yakamanikidzwa kuvimba zvakanyanya pamabasa ekutengesa. Yakawedzeredza nehurongwa hwekutengesa mafa einzi quantitative easing . Heino zvakataurwa:
- QE1 (December 2008-August 2010) - Fed yakawana $ 175 Mamiriyoni MBS kubva kumabhenji ayo akanga atanga na Fannie Mae, Freddie Mac, uye Federal Home Loan Banks. Pakati paJanuary 2009-August 2010, yakatengawo $ 1.25 trillion muBMB yakanga yakatsigirwa naFannie, Freddie naGinnie Mae. Pakati paMarch 2009-Gumiguru 2009, yakatenga madhora mazana matatu emadhora mabhiriyoni emadhora emakore akawanda kubva kumabanki.
- QE2 (November 2010-June 2011) - Fed yakatenga madhora mazana matanhatu emadhora mabhiriyoni emakore.
- Operation Twist (Nyamavhuvhu 2011-December 2012) - Sezvo mari yeHurumende yemari shoma yeHurumende yakakwira, yakashandisa mari yekutenga nguva yakareba yeHarare inowanikwa kuti ichengetedze zvikwereti. Yakaramba ichitenga MBS nemari yeMBS yakakura.
- QE3 (Svondo 2012-Gumiguru 2014) - Fed yakaendesa kutenga kwe MBS kusvika ku $ 40 mabhiriyoni pamwedzi.
- QE4 (January 2013-Gumiguru 2014) - Fed yakawedzera $ 45 mabhiriyoni emakore akawanda Treasurys kuchengetedza purogiramu yekutenga kwayo.
Kuonga QE, iyo Fed yakachengetedza $ 4.5 trilliyoni yezvivimbiso pakuresa kwayo. Yakapa mabhanki toni yemari yechikwereti. Vaida izvi kuti vateerere zvitsva zvinotarisirwa neDodd-Frank Wall Street Reform Act .
Somugumisiro, mabanki akawanda aisafanira kubhadhara mari yekudyisa mari kuti asangane nechekudiwa. Izvo zvinoderedza kushushikana kwepamusoro kune zvakadyiwa zvemari. Kuti varwise izvi, Fed yakatanga kutora chikwereti chezvikwereti pane zvaidiwa uye zvinowedzera mabhengi. Yakashandisawo reverse repos kuti itungamirire mari yakadyiwa mari.
IFed yakaratidza kuguma kwekuwedzera kwayo kwemahokheni akazaruka pamusangano wayo waDecember 14, 2016. Komiti yakasimudza mari yakasimwa yakawanda kusvika kune 0,75 muzana. IFed yakashandisa mamwe maitiro ekunyengetedza mabhengi kuti irerese chiyero ichi. Mukutarisana nechikamu ichi chinopesana, chakaramba chichitenga zvitsva zvitsva apo vakwegura vakazofanira. Iko kugadziriswa kwemahombekiti akazaruka kwakapa huwandu hwekuwedzera kune huwandu hwezvibereko.
Musi waJune 14, 2017, Fed yakarondedzera kuti ingaderedza sei kubata kwayo. Inobvumira $ 6 mabhiriyoni eWorldurys kukura pasina kuisa panzvimbo yavo. Mwedzi woga woga unobvumira imwe $ 6 mabhiriyoni kuti iwedzere. Chinangwa chacho ndechokubvisa $ 30 mabhiriyoni pamwedzi. Nhepfenyuro ichaita zvakafanana neyo kubata kwekuchengetwa kwemari , uye chete nekuwedzera kwe $ 4 mabhiriyoni pamwedzi kusvikira inosvika $ 20 bhiriyoni. Mari yakatanga iri mutemo munaOctober 2017. (Chinyorwa: "Ndezvipi Zvishandiso zveAmerican Monetary Policy?" Federal Bank Bank yeSan Francisco.)