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or significant asset bubbles that would threaten financial stability

已有 200 次阅读  2013-04-20 14:26   标签celine  sun  gla 
US Federal Reserve Vice Chair Janet Yellen on Tuesday said that central bankers should remain alert to the financial risk against the backdrop of ongoing monetary easing policies.Speaking at a seminar hosted by the International Monetary Fund (IMF) before the upcoming Spring Meetings of the IMF and World Bank scheduled to kick off on April 19, Yellen said that the concern about financial stability risk was a "very important question."The Fed's monetary easing policies are "intended to promote a return to prudent risk-taking, reflecting a normalization of credit markets that is essential to a healthy economy," Yellen said. "Obviously, risk-taking can go too far."Since the onset of the financial crisis, the Fed has kept its short-term interest rate at a historically low level and completed two rounds of quantitative easing programs, known as QE1 and QE2. It is now purchasing longer-term government debt and mortgage-backed securities at a pace of 85 billion US dollars per month, dubbed as QE3, to stimulate bank lending and economic growth."Low interest rates may induce investors to take on too much leverage and reach too aggressively for yield. I don't see pervasive evidence of rapid credit growth, a marked buildup in leverage, or significant asset bubbles that would threaten financial stability," she said."But there are signs that some parties are reaching for yield, and the Federal Reserve continues to carefully monitor this situation,celine jacket," she said,cheap oakleys free shipping."We are prepared to use any of our many instruments as appropriate to address any stability concerns," Yellen added.Some economists worry that a long period of historically-low interest rate since the end of 2008 and large asset-buying programs have underpriced credit and encouraged risk taking,true religion factory outlet, fueling asset bubbles in the global stock and commodity markets.

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