<p><img src="https://imageproxy.pbkrs.com/https://upload.wikimedia.org/wikipedia/commons/thumb/8/8d/Marriner_S._Eccles_Federal_Reserve_Board_Building.jpg/800px-Marriner_S._Eccles_Federal_Reserve_Board_Building.jpg/query-MjAxMTExMjgwNzUzMTg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://upload.wikimedia.org/wikipedia/commons/thumb/8/8d/Marriner_S._Eccles_Federal_Reserve_Board_Building.jpg/800px-Marriner_S._Eccles_Federal_Reserve_Board_Building.jpg/query-MjAxMTExMjgwNzUzMTg"/></p>
<p><em>图片来源：维基百科</em></p>
<p>美联储再次在印钞。</p>
<p>正如我在 2017 年畅销书 <strong>《一切泡沫》</strong> 中首次阐述的，一旦中央银行踏上紧急货币政策的道路，就永远无法逃脱/正常化。是的，中央银行会有试图正常化的时期……但这些时期充其量只会持续几年，然后银行又会回到宽松政策上。</p>
<p>美联储再次证明了这一点。</p>
<p>结束通胀的尝试持续了大约 30 个月（从 2022 年 3 月到 2024 年 9 月），然后美联储又开始降息。自那以来，美联储已经降息六次，将金融系统中的资金成本从 5.5% 降低到 3.75%。</p>
<p>在周三，美联储宣布了一项新的量化宽松计划，将每月印刷 400 亿美元用于购买短期国债，这一宽松政策大幅加速。</p>
<p>美联储为什么要这样做？</p>
<p>因为美国每 100 天新增 1 万亿美元的债务。美联储可以通过通胀引发市场上涨……或者让债券泡沫破裂，触发危机。</p>
<p>美联储选择了选项#1。</p>
<p>我不喜欢这样，也不同意。但我打算从中大赚一笔。</p>
<p>你也应该这样做。</p>
<hr/>
<p><em>更多作者作品：</em></p>
<p>世界上最重要的市场再次崩溃</p>
<p>特朗普时代的美联储将引发市场上涨</p>
<p>中央银行无法创造就业或增长</p>

<p>美联储再次开始印钞，实施新的量化宽松（QE）计划，每月购买 400 亿美元的短期国债。这一举措是在美国每 100 天增加 1 万亿美元债务的背景下进行的，美联储选择诱发通货膨胀，而不是冒着债券市场危机的风险。美联储已经六次降息，将利率从 5.5% 降低至 3.75%，突显了正常化货币政策的挑战</p>

<p><img src="https://imageproxy.pbkrs.com/https://upload.wikimedia.org/wikipedia/commons/thumb/8/8d/Marriner_S._Eccles_Federal_Reserve_Board_Building.jpg/800px-Marriner_S._Eccles_Federal_Reserve_Board_Building.jpg/query-MjAxMTExMjgwNzUzMTg" alt="" original-src="https://upload.wikimedia.org/wikipedia/commons/thumb/8/8d/Marriner_S._Eccles_Federal_Reserve_Board_Building.jpg/800px-Marriner_S._Eccles_Federal_Reserve_Board_Building.jpg?20111128075318"/></p>
<p><em>Image source: Wikipedia</em></p>
<div class="lb-trans"><p><em>图片来源：维基百科</em></p>
</div><p>The Fed is printing money again.</p>
<div class="lb-trans"><p>美联储再次在印钞。</p>
</div><p>As I first outlined in my 2017 best-selling book <strong><em>The Everything Bubble</em></strong>, once a central bank embarks on a path of emergency monetary policy, it can never escape/ normalize. Yes, there will be periods during which a central bank <em>attempts</em> to normalize… but those will only last a few years at best before the bank is once again back to easing.</p>
<div class="lb-trans"><p>正如我在 2017 年畅销书 <strong>《一切泡沫》</strong> 中首次阐述的，一旦中央银行踏上紧急货币政策的道路，就永远无法逃脱/正常化。是的，中央银行会有试图正常化的时期……但这些时期充其量只会持续几年，然后银行又会回到宽松政策上。</p>
</div><p>The Fed just proved this point, again.</p>
<div class="lb-trans"><p>美联储再次证明了这一点。</p>
</div><p>The attempt to end inflation lasted a roughly 30 (from March 2022 to September 2024) before the Fed was back cutting rates. The Fed has since cut rates SIX times, reducing the cost of money in the financial system from 5.5% to 3.75%.</p>
<div class="lb-trans"><p>结束通胀的尝试持续了大约 30 个月（从 2022 年 3 月到 2024 年 9 月），然后美联储又开始降息。自那以来，美联储已经降息六次，将金融系统中的资金成本从 5.5% 降低到 3.75%。</p>
</div><p>This easing accelerated in a big way on Wednesday when the Fed announced a new QE program through which it will print $40 billion per month and use it to buy short-term Treasuries.</p>
<div class="lb-trans"><p>在周三，美联储宣布了一项新的量化宽松计划，将每月印刷 400 亿美元用于购买短期国债，这一宽松政策大幅加速。</p>
</div><p>Why is the Fed doing this?</p>
<div class="lb-trans"><p>美联储为什么要这样做？</p>
</div><p>Because the U.S. is adding $1 trillion in new debt every 100 days. The Fed can either induce a melt-up via inflation… or let the bond bubble burst, triggering a crisis.</p>
<div class="lb-trans"><p>因为美国每 100 天新增 1 万亿美元的债务。美联储可以通过通胀引发市场上涨……或者让债券泡沫破裂，触发危机。</p>
</div><p>The Fed is chose options #1.</p>
<div class="lb-trans"><p>美联储选择了选项#1。</p>
</div><p>I don’t like this, nor do I agree with it. But I intend to profit from it in a big way.</p>
<div class="lb-trans"><p>我不喜欢这样，也不同意。但我打算从中大赚一笔。</p>
</div><p>You should too.</p>
<div class="lb-trans"><p>你也应该这样做。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多作者作品：</em></p>
</div><p>The Most Important Market In The World Is Breaking Down Again</p>
<div class="lb-trans"><p>世界上最重要的市场再次崩溃</p>
</div><p>The Trump Fed Will Ignite A Melt Up</p>
<div class="lb-trans"><p>特朗普时代的美联储将引发市场上涨</p>
</div><p>Central Banks Cannot Create Jobs Or Growth</p>
<div class="lb-trans"><p>中央银行无法创造就业或增长</p>
</div>

无论我们是否喜欢，美联储正在采取这一行动