Name: 美聯儲如何引導利率以引導整個經濟（How the Fed Steers Interest Rates to Guide the Entire Economy | WSJ）
Uploaded: 2022-04-02T11:09:06.000Z
Duration: 5 min 19 s
Description: 【看影片學英語】數萬部 YouTube 影片，搭配英漢字典即點即查，輕鬆掌握單字發音與用法，長久累積看電影不必再看字幕。

- [Narrator] With inflation hovering around

基礎被動語態

the Federal Reserve is expected to raise interest rates

on what will be needed to ensure a long economic expansion.

and do our part in getting inflation back down

- [Narrator] The way the central bank does this

You can see on this chart that the rate was lowered

to nearly 0% in 2020 to boost the economy

- There is an important job for us to move away

from these very highly simulative monetary policy settings.

- [Narrator] Adjustments to the federal funds rate

from how much you own your credit card to mortgage rates.

They also shape broader decisions made by companies,

like how many people to hire or whether to raise prices.

and how just one rate can guide the entire economy.

and they're looking at a range of economic data

One is to ensure stable prices and low inflation.

- [Narrator] Nick Timiraos covers how the fed guides

but they also wanna make sure that it's not going too fast.

- [Narrator] This is where the federal funds rate comes in.

is to raise or to lower the federal funds rate.

that banks charge each other to borrow money overnight,

isn't directly set by the federal reserve.

the fed uses a couple of other tools to set a target range.

These tools are rates that the fed controls in its role

Here's the target range that was in place during 2021.

The federal reserve sets an upper limit and a lower limit

with the goal of keeping the effective federal funds rate

This is the rate of interest a bank gets on deposits

known as reserves that it keeps at the federal reserve.

These are securities like treasury bills,

but the federal reserve lends to banks usually for a day

has set the target range between the two yellow lines,

the blue line, which is the effective federal funds rate

set by banks sits between the upper and lower limits

the effective rate goes up or down with it

- So far they've had very successful control

and guiding all short-term money market rates

to where they generally are trying to move them.

- [Narrator] The fed makes these adjustments

Its rate increases for 2022 are expected to only change

by about a quarter to half of a point at a time.

So how can these tiny adjustments for banks

they'll in turn charge their customers more,

The goal of raising these rates is to drive down demand.

- Inflation results when supply and demand are outta whack.

The fed can't do anything to increase the supply of oil

or to increase the number of houses for sale.

The supply side is something out of their reach,

but they can bring supply and demand by reducing demand.

- [Narrator] Here's how rates can influence demand

字幕列表影片播放

美聯儲如何引導利率以引導整個經濟（How the Fed Steers Interest Rates to Guide the Entire Economy | WSJ）

entire

potential

pandemic

boost