Apparently no one really understands how much the size of the Federal Reserve’s balance sheet matters for markets. Jay Powell probably knows a thing or two but avoided the issue almost entirely in his brief but hawkish speech at last week’s Jackson Hole.
显然，没有人真正了解美联储(Fed)资产负债表的规模对市场的影响有多大。杰伊•鲍威尔(Jay Powell)或许知道一点儿什么，但在上周杰克逊霍尔(Jackson Hole)发表的简短但鹰派的演讲中，他几乎完全回避了这个问题。
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