美联储早期职能探析

Analysis of the FED＇ s Early Function

美联储成立之初的主要职能是对银行体系实行业务监管，为美国银行业提供一个作为最后贷款人的保障，但其早期职能的单一暴露出其作为美国央行的不足。随着其改革的不断深入和扩大，美联储逐渐成为美国经济发展的助推器和杠杆。

The main function of the initial FED＇ s is to supervise the business of bank system to supply a safeguard as the last payer to the banks. But its single function at early satage exposed its shortcomings as a central bank of USA. With the deepening and enlarging reform, the FED has gradually become a booster and lever for American economy development.