摘要
Sustainable economic recovery in the U.S. has created a favorable environment for the Federal Reserve(Fed)'s tapering policy, but this operation faces many different types of risk. China should seize the current opportunity while the Fed tapers operations to carve out countermeasures in order to withstand economic risk and enhance its capacity to ward off financial shock.
In December 2013,the Federal Open Market Committee （FOMC） formally announced that it would wind down the size of its large-scale asset purchase program.This formally set in motion the exit of quantitative easing （QE）.However,at present,the American unemployment rate is still relatively high,the real estate market is gloomy,inflation is too low,the balance sheet is facing an unexpected increase in risks,and policies are confionted with cost pressures.Under such circumstances,the Fed is faced with multiple challenges in the tapering of QE.QE policy has made great contributions to helping the United States to shake off financial crisis,and the safe and smooth exit of the policy is of the utmost importance to the recovery of the U.S.economy and the reshaping of U.S.advantages.In addition,the Fed＇s monetary policy reversal will engender spillover risks and challenges for China＇s economy.
