IKomiti iphinda ihlolisise ubungakanani kunye nokubunjwa kwezibambiso zayo kunye nokulungelelanisa ezo ndawo ngokufanelekileyo.
Injongo yoPhulo lwe-Twist kukunciphisa iindleko zexesha lexesha elide, kwaye ngoko ke inzala. Ukwenza oku ngokunyusa imfuno yamanqaku eNondyebo. Njengoko imfuno iphakama, ngokunjalo intengo, njengaye nayiphi na enye impahla. Nangona kunjalo, amaxabiso angamaqumrhu aphakamileyo athatyathwa ngumvuno ophantsi lwabatyalomali.
Le nzala engaphantsi yenzalo? Isivuno seNqaku leNondyebo eli-10 leminyaka yintlawulo yemali yerhafu kuwo onke amanqaku-mboleko ahlawuleyo, kubandakanywa nemali-mboleko. I-Fed isebenzisa i-Operation Twist ukwenza iimali-mboleko ezingabizi, ukukhuthaza aboboleki ukuba bathenge i-real estate, imoto, kunye nefenitshala. Oku kwavumela ukuba amashishini akwandise ngokuncinci.
Usebenziso lwe-Twist ngo-2011
USihlalo we-Federal Reserve uBen Bernanke wamemezela i-$ 400 billion ye-Operation Twist program ngoSeptemba 2011.
Njengoko-mali wexesha elifutshane (iminyaka engama-3 okanye ngaphantsi) iibill kunye namanqaku akhulayo, i-Fed iya kusebenzisa imali yokuthenga ixesha elide (iminyaka engama-6-30) amanqaku kunye neebhonki. I-Fed iya kuthenga i -securities entsha yokubambisa imali njengokuba abadala bebefanelekile. I-Fed iyakwazi ukuthenga i-Treasury yangexesha elide kunye nemali ye-MBS ukuba ibonekile.
I-twist ibonise ukuba uBernanke wayegxininisa ukugxila kwebhanki ephakathi ekulungiseni umonakalo kwi- subprime mortgage crisis ukuze kuxhaswe imali ngokubanzi. I-Fed yabhengeze ukuba iya kugcina i- Fed imali yezinga le- Fed kuze kube ngu-2015.
NgokuSebenziselwa ukuSebenza, i-Fed yayishukumisela abatyali-mali ukuba bangabikho kwii-Treasury ezikhuselekileyo ezikhuselweyo kunye neengozi kwaye babuyele. Imfuno yeNondyebo yayisenyakatho, ngenxa yokuxhalabisa kwi- crisis ye - eurozone . Ngokunciphisa ngokuzithandela isivuno, i-Fed yayinyanzelisa abatyala-mali ukuba baqwalasele ezinye iimali-mali eziza kunceda uqoqosho ngakumbi.
Umgaqo-nkqubo usebenze. Ngomhla ka-Juni 2012, isivuno kwiNondyebo ye-10-mali sineminyaka engama-200. Ngenxa yoko, imarike yezindlu yaqala ukubuyela, njengoko kwenza imali yebhanki. Ezinye izinto zanceda, kodwa ulawulo lweFed nge-Operation Twist lwalukho ukukhanya okukhokelela. Kwaphela ngoDisemba 2012, xa i-QE4 yaziswe. Ngaphezulu, jonga Kutheni i-Mortgage Rates ingaba yinto engezantsi ukuya kwenye iminyaka engama-200 .
Nangona kunjalo, abaninzi bagxeka izenzo zeFed. Bathi, nangona ipolisi yemali yokwandisa , uqoqosho alukhuli. Ukungabikho kwemisebenzi kwahlala kuphakamileyo kuba amabhizinisi ayengakhula kwaye adala amathuba emisebenzi.
Ngelishwa, i-Fed inokuyenza kuphela.
UBernanke waxwayisa amaxesha amaninzi ukuba abaphathi bezomthetho kufuneka baxhomeke kwi- cliff fiscal . Amashishini ahlala eqaphele, nangona kubakho imali ebolekileyo. Isihlalo se-Fed sisitsho ngokuqinisekileyo ukuba i-Fed yayinomgca wegesi kwi-floorboards, kodwa ayikwazanga ukunqoba ukungaqiniseki okudalwe ngumgaqo-nkqubo wezemali.
Kutheni i-Operation Twist engakhange idale imisebenzi
NgoJuni 20, 2012, i- Federal Reserve yamemezela ukuba iya kwandisa inkqubo yayo yo- "Operation Twist" kude kube sekupheleni konyaka. Kuya kubakho ukugcina isantya semali seFed kumazinga aphantsi aphantsi kwa-2014. Kwintetho yakhe eKapitol Hill, uSihlalo uBen Bernanke wabuza amaziko akhethiweyo ukuba asombulule ukungaqiniseki malunga neentlupheko zentlawulo, irhafu nemimiselo. Oku kwakufanele kwenzeke ngaphambi kokuba amashishini athole ukuzithemba ukubuyela kumzila wokuqesha.
Izinga lokungabikho kwemisebenzi liphezulu ngenxa yezinto ezimbini: ukungasebenzi kwemisebenzi kunye nokungasebenzi kwemisebenzi .
Ukungabikho kwemisebenzi kubangelwa ukuhlawulelwa kwemali, isigaba esiqhekezayo esijikelezayo. Ukungabikho kwemisebenzi kwabasebenzi kungokwenzekayo xa i-long-term unemployment ilahlekelwa izakhono ezifunekayo ukuncintisana kwimakethi yomsebenzi.
Ziziphi ezinye izisombululo zengqesho ? Ukubuyisela kwakhona ezinye zee-800 zeebhiliyoni ezingama-dollar ezisetyenziselwa ukukhusela uzwelonke kwimizamo emininzi yemisebenzi, njengokwakhiwa. I-tie yongezelela iingeniso zokungasebenzi kunye nokuqeqeshwa komsebenzi kunye nokuqeqeshwa kwabasebenzi. Uninzi lwazo zonke, ziphakame ngaphezu kwezopolitiko zonyaka unyulo lonyulo kwaye zithethathe isisombululo kwisithintelo semali.
Ukusebenza kwe-Twist, okanye nayiphina inkqubo ye-Fed, ayikwazi ukwenza okuninzi ukunciphisa ukungabikho kwemisebenzi ngenxa yokuba ukuthengiswa kwemali kungekhona ingxaki. Ngamanye amazwi, kuncinci ukuba umgaqo-nkqubo wezemali owandisayo unokwenza ukukhuthaza uqoqosho. Ingxaki yithemba eliphantsi phakathi kweenkokheli zoshishino. Ingaba kukho i-eurozone crisis, i- floral cliff , okanye imimiselo, amashishini azimisele ukuqeshisa ade aqiniseke ukuba imfuno iya kuba khona. Isisombululo kufuneka sivela eWashington naseBrussels.
Imbali yoSebenzi yokuSebenza kuma-1960
I-Operation Twist yasekuqaleni yaqaliswa ngoFebruwari 1961. Yayibizwa ngokuba ngumdaniso owawuthandwa ngumculi weChubby Checker. I-Federal Reserve yaqalisa ukuthengisa iimpahla zayo zexesha elifutshane ze-Nondyebo, ukuzama ukuvelisa isivuno. Kwakudinga ukukhuthaza abatyala-mali basemzini ukuba bafake imali yabo kulezi bhili, endaweni yokuhlawulela imali yegolide.
Ngelo xesha, i-US yayisemgangathweni wegolide . Abafokazi abathengisa iimveliso e-US babeza kuyitshintshela igolide, ngaloo ndlela bachithe izibonelelo kwi Fort Fort. Ngaphandle kweendleko zegolide, i- dollar yase - United States yayingenamandla okanye inamandla. Njengoko iimpahla zase-US zakhula emva kweMfazwe yehlabathi II, abathengi bangenisa ngaphezulu nangaphezulu. Namhlanje, asisayikhathazeka ngegolide e-Fort Knox kuba uMongameli uNixon washiya umgangatho wegolide ngowe-1970.
I-Fed yafuna kwakhona ukukhulisa imali ngokunciphisa isivuno kwi-Treasury yangexesha elide. Uqoqosho lwalubuyiselwa kwimali ye-1958, ngokwayo yaziswa ekupheleni kweMfazwe yaseKorea .
Ukusebenza kwe-Twist kwakuyi-bold action action. Usihlalo weFed William McChesney uMartin uvumelekile ukuba aphendule isicelo sikaMongameli uJohn F. Kennedy sokuthenga amanqaku asekude kunye nokunciphisa inzala. Amanye amalungu eBhodi eBhodi awaxhatshazwa "kwimpembelelo yezopolitiko." Kodwa i-Operation Twist yenza umsebenzi wokuphucula uqoqosho ngokuphakamisa amaxabiso atshanje. Kwakungekho nzobudlova ngokwaneleyo ukunciphisa ixabiso elide elide. Nangona kunjalo, uqoqosho lwaphela.