Top Federal Reserve officials were careful to be seen to be understanding of the plight of lesser central banks during the International Monetary Fund’s meetings in Washington last month. But they may have unintentionally made things worse. By confirming their reluctance to assume greater international commitments, they underlined the divide between central banks that have access to the Fed’s dollar swap facility and those that do not – or, between those with and without a Fed backstop.
上月，国际货币基金组织(IMF)和世界银行(World Bank)年会在华盛顿召开。尽管美联储(Fed)高官在会议上小心谨慎地表明自己对较小央行所处的困境了然于胸，但他们可能无意中使情况变得更加糟糕了。通过确认自己不愿承担更多的国际责任，他们让大家深刻认识到了两类央行之间的不同：一类是能求助美联储美元互换安排的，另一类是不能求助的——换句话说，一类有美联储作最终担保，另一类没有。
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