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Ken Fisher: What You — and Central Bankers — Need to Know About America’s Inverted Yield Curve

2019年09月20日 20:16 来源于 财新网
Central banks should get over their obsession with low long-term interest rates
Photo: VCG

Will Western pundits ever learn? They still think America’s slightly inverted yield curve — when short-term Treasury yields top long — means recession is imminent. To fix it, everyone thinks the U.S. Federal Reserve must cut rates. Wrong on both counts. While I’m all for a steeper U.S. curve, rate cuts aren’t the way to get it. They — and thus China — would get a bigger bang by dumping all the bonds bought during “quantitative easing” (QE).

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