As leaders gathered last week for the annual Jackson Hole symposium on the economy, they should consider the future of the Federal Reserve as lender of last resort. Over many decades and especially in this financial crisis, the Fed has used its balance sheet to be a classic lender of last resort. But its ability to do so depends upon its economic credibility and political independence, attributes the Fed has compromised in this crisis.
领导人们上周参加一年一度的杰克逊霍尔manbetx20客户端下载 研讨会(Jackson Hole Symposium)时，应该考虑一下美联储(Fed)作为最后货款人的未来。在数十年的时间里，尤其是在此次金融危机中，美联储一直在用自己的资产负债表，承担着典型的最后贷款人角色。但它之所以能这做，依靠的是自身的manbetx20客户端下载 信誉和政治独立性，但在这场危机中美联储已经损害了这些特质。
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