Name: 政府銀行如何塑造股票市場（How The Government’s Bank Shapes The Stock Market）
Uploaded: 2022-12-30T07:10:04.000Z
Duration: 13 min 40 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。

When it comes to money, there's one group that's

more powerful than every trader on Wall Street.

People listen to the Fed and they respond to what

When you listen to the Fed, you get at least one

studied outlook about what the future's going

six weeks or so, tend to cause swings in the stock

Over time, central banks have moved from being

very secretive about what they're doing to

being more transparent about their policy

decisions. And part of that transparency is

signaling where policy is likely to go in the

The Federal Reserve has hiked interest rates

This and a historic drawdown in the bank's

bond portfolio is weighing on stocks across

But there's a lot of other forces that are

By the time they usually start trying to slow

And how can investors take a sound bite and

Forward guidance refers to public comments made

Let's talk about forward guidance in two different

ways. The first way the Fed does forward guidance

is actually a very overt way, which is it tells

you how they think the economy is going to

evolve. The other way the Fed does so is in

Some economic models say forward guidance is

expectations of the future, you can change

their behavior in the present to make the

statement. The statement contains a vague but

definitive description about a forthcoming

We side by side compare the statements that it

released month over month highlighting the

differentiation. And like a word, literally,

There is a little bit of tea leaf crystal ball

that certainly goes into parsing the Fed words.

Investors cracking the Fed code are listening

"we expect to maintain an accommodative stance of

monetary policy until these outcomes, including

If you noticed what Powell said during the

pandemic, we're not even thinking about raising

billion in securities per month across the

Some of the most potent Fed statements are about

The Fed sets the interest rate that it pays on

reserves held by banks, sort of the same way your

There's this connection between short-term

interest rates that are closely connected to

monetary policy and the interest rates on

mortgages, auto loans, things like this that

would be more relevant to household decisions.

The Fed sets a target for these interest rates

about eight times a year. Over the past 20

years, the target has stayed low, with extended

Economists say that taking this interest rate

You can't set an interest rate less than zero

because people would just store cash in their

mattress instead of investing it with you.

And all this was because they didn't see the

So instead, the Fed tries to set expectations with

Everybody does their best to set expectations going

forward, depending on what this guidance is.

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政府銀行如何塑造股票市場（How The Government’s Bank Shapes The Stock Market）

ultimately

subtle

present

pandemic