美联储基准利率的选择及其对美国经济发展的影响

The Option of Fed's Benchmark Interest Rate and its Impact on the American Economy

美联储基准利率是美国整个利率体系中起主导作用的利率,是在整个金融市场和利率体系中处于关键地位、起决定作用的利率。在金融危机的应对中,美国政府虽然采用了许多非传统的金融政策,但是金融政策中最基本的工具还是利率的升降,使美国经济较快摆脱了危机,实现增长。其中基准利率体系发挥着举足轻重的作用。借鉴美联储基准利率的选择和利率的调控,对于提高我国金融机构的定价能力,深化利率市场化进程、完善基准利率体系建设、指导货币市场产品定价以及完善货币政策传导机制等具有非常重要的作用。

The federal reserve＇s benchmark interest rate is the whole interest rate system playing a leading role in interest rates, and is in the key position in the whole financial market and interest rate system, interest rates and decisive. In response to the financial crisis, the United States government adopted many unconventional monetary policies. But one of the most basic financial policy tools is the interest rates rise, make the economy quickly out of the crisis, and realize the growth.The benchmark interest rate system plays a vital role. Reference to the choice of benchmark interest rate and interest rate regulation has a very important role to improve the pricing power of China＇s financial institutions, deepen the market-oriented interest rate process, improve the benchmark interest rate system construction and guide the money market products pricing and improve the monetary policy transmission mechanism.