Sangano reUnited States reUnited States rakapedza kugadzirisa sangano rayo rinokurudzira kutengesa kwehuwandu. Musi waDecember 18, 2013, Fed yakazotanga kuvhara mari yekutengesa ne $ 10 biliyoni pamwedzi, kusvika $ 75 mabhiriyoni. Mushure mekupedzisira kwekuderedza kwegore rose muna 2014, chirongwa chacho chakapedzisa kutevera Fed yaOctober 29-30 musangano.
Chii Chinonzi Kudonhedzwa?
"Kutora" izwi rakaputika mumabhuku ekubhadhara mari pamusi waMay 22, apo Sachigaro weUnited States weBudge Reserve, Ben Bernanke, akataura muhutungamiri pamberi peCongress kuti Fed inogona kuwedzera - kana kuderedza - hukuru hwehurongwa hwekutenga bhizinesi hunozivikanwa sehuwandu hwekutengesa ( QE). Purogiramu, iyo yakagadzirirwa kukurudzira hupfumi, yakashandira chinangwa chechipiri chekutsigira mari yekutengeserana kwemari mumakore achangopfuura.
Kunyange zvazvo kudanidzwa kwaBernanke kushamisa kwakakonzera kukakavadzana kukuru mumisika yezvemari panguva yechikamu chechipiri, Fed haina kuzivisa zvakasarudzwa kupera kwayo kwokutanga muQE kusvika December 18, 2013, panguva iyo yakaderedza chirongwa ichi kusvika $ 75 mabhiriyoni pamwedzi kubva pachiyero chayo chepakutanga ye $ 85 mabhiriyoni. Chikonzero chekufamba uku ndechokuti hupfumi hwakanga hwakasimba zvakakwana kuti Fed iwedzere kuva nechivimbo mukuderedza huwandu hwekukurudzira. Iyo tapering yakaenderera mberi musi waJanuary 29, neFed ichizivisa kuti kuenderera mberi kwekuvandudzwa mumamiriro ehupfumi kwakaratidza kuderedzwa kweQE, uye bhandi guru rinoramba riri munzira kuitira kuti purogiramu iwedzere gore risati rasvika. Iyo Fed yakasarudza nzira iyi zvishoma nezvishoma ndeyoChida cheFed yekusika zvishoma kudengenyeka kwemusika.
Kuguma kweQE chiratidzo chakanaka cheUnited States, sezvo ichiratidza kuti Fed ine hutano hwakakwana muhupfumi hwekudzorera kubvisa kutsigirwa kunopiwa neQE.
Kutanga kwe "Tapering" Kukurukurirana
Nyaya yekufambisa yakatanga kuenderera mberi mukuziva kwevanhu paBernanke, yakabvunzwa nezvenguva yekuguma kwekuguma kwehutungamiri hweFed huwandu hwehupfumi mumuprofita wake waMay 22, wakati, "Kana tikaona huri kubudirira uye tine chivimbo chokuti zvichazove yakatsigirwa ipapo tinokwanisa mumisangano mishomanana inotevera ...
tora danho riri pasi pedu rekutenga. "Ichi chaingova chimwe chezvakataurwa zvizhinji zvakaitwa naBernanke zuva iroro. Zvisinei, ndiyo ndiyo yakagamuchirwa zvikuru nokuti yakasvika pane imwe nguva apo vatengesi vakanga vatotanga kufunganya pamusoro pemakambani angangodaro anokonzerwa nekuderedzwa kwehutano hwakanga huri hwakakosha zvikuru pamatokisi nemabatanidzwa.
Kuti uwane tsanangudzo yakazara, yakasvika kusvika kune imwe yenyika yeFed , tarira Current Federal Reserve Policy: Inofanirwa neMusangano
Bernanke akazotevera mazwi ake apfuura mumusangano wehurukuro wakatevera musangano weFed musi wa19 July . Nepo achitaura kuti huwandu hwekugadzirisa hurumende hwakaramba hwakagadziriswa panguva iyo, Mutungamiri weFed akataura zvakare kuti mutemo wacho wakanga wakatarisana nedzimwe nyaya. Achifunga nezvekuvandudzika kwehupfumi hweUnited States, aitarisira kuti nzira iyi inotungamirirwa nedhina ichaita kuti atange kuisa QE kusati kwapera kwegore ra2013, uye chirongwa chinopera zvachose muna 2014.
Neizvi, semisika yakatarisira kuti kutengesa kuitike pamusangano weFed waSeptember 18, 2013. Zvisinei, bhanga guru rakashamisika mumisika kuburikidza kusarudza kuchengetedza QE pa $ 85 mabhiriyoni pamwedzi. Izvi zvingangodaro zvakakonzerwa nezvinhu zviviri: 1) rwonzi rwekushaya simba kwehupfumi dambudziko rakange rabudiswa mumwedzi wakatarwa uye 2) tarisiro yekukura zvishoma nezvishoma kubva kuhurumende inosvika kuvharwa uye kukwereta kwekwereti .
Somugumisiro, Fed yakasarudza kunonoka kutanga kwekutengesa kusvikira musangano wayo waDecember, 2013.
Izvo zvingave zvekutengesa zvakange zviripo kubva pakutanga kwepurogiramu yeQE. Kuongororwa kwepamusoro kwakange kusina kumbofanirwa kugara nekusingaperi sezvo hutengo hwekutengesa humwe hunowedzera huwandu hweFed's " balance sheet " nekuwedzera huwandu hwezvisungo zvahwo.
Masoko Anoita kuTapeering
Kunyange zvazvo chirevo chaBernanke chaifungidzira chakanga chisingarevi kuchinja kwekukurumidza, asi chakatya misika. Mukugadzirisa kwakatevedzana nedambudziko rezvemari ra2008 , zvose zvikwata uye zvisungo zvakabudisa zvikwereti zvakakosha pasinei nekukura kwehupfumi zviri pasi pemitemo yezvakaitika. Kubvumirana kukuru, iyo inogona kunge yakajeka, ndeyokuti Fed mazano ndeye chikonzero chekubvisa uku.
Gare gare muna 2013, chivimbo chevanhu vakawanda chakanga chiri chokuti kana Fed yakatanga kudhonza pamusana pekusimudzira kwayo, misika inotanga kuita zvakawanda maererano nehutungamiri hwezvoupfumi - izvo munyaya iyi, zvaireva kushanda kusimba.
Zvikwereti zvechokwadi zvakatengeswa zvakananga mushure mokutaura kwaBernanke kwokutanga kwekutengesa, asi matengesi akatanga kutarisa kuderera kupfuura zvakamboitika. Zvisinei, misika yakagadziriswa kuburikidza nehafu yechipiri ya2013 sezvo varairidzi vawedzera zvishoma nezvishoma pamwe nepfungwa yekuderedzwa kweQE.
Nehupfumi hwekuvandudza kuwana hutano kuburikidza na2014 - uye varimi vanochengetedza chido chine utano hwehutambudzi - kushandiswa kwekutengesa kwave kusina misika inowanikwa. Izvozvi, zvose zvishamba uye zvisungo zvakaitwa zvakanaka. Izvi zvinoratidza kuti Fed yakanga yakarurama muchisarudzo chayo chokutora mutemo wayo wekuchepesa kwepamusoro, uyewo munguva yazvo uye nguva.