Ngubani othe wachaphazelekayo?
I-No ye-No.1 igunya lilawula ukunyuka kwamaxabiso . Abadlali abanempembelelo kakhulu ekulwa nokunyuka kwamaxabiso yizihlalo ze-Federal Reserve. Isixhobo sabo esinamandla kunazo zonke kukunyusa inzala .
Izihlalo ezixhaswayo azifuni ukunciphisa ukunyuka kwamaxabiso ukuya kutsho.
Ukunyuka kwexabiso elincinci kukuhle . Yenza abathengi balindele ukuba amanani aqhubeke ephakama. Bathenga izinto ngoku phambi kwexabiso ukuya phezulu. Ukwanda kwindleko kukhuthaza ukukhula koqoqosho. Ngenxa yoko, izitulo zeFed zibeke umlinganiselo wokunyuka kwamaxabiso we-2%. Oku kusebenza kwizinga eliphezulu lokunyuka kwamaxabiso . Kuthatha umphumo wokutya okunamandla kunye namandla.
Isihlalo ngasinye esidlulileyo se-Fed siye safuneka sibhekane nokunyuka kwamaxabiso. Kodwa imingeni abajongene nayo kwaye izixhobo abazisebenzisileyo ziye zahluke kakhulu.
Isihlandlo seZitulo zangaphambili ukususela ngo-1934
UMariner S. Eccles (1934-1948) kwafuneka alwe nokunyuka kwamaxabiso. Kwafikelela kwinani eliphakamileyo le-18.1 ekhulwini ngo-1946. Iinkqubo zikaRhulumente zaseburhulumenteni ukubonelela ngemisebenzi yokubuyiselwa kwabasemagunyeni kubangele. I-Bhodi ye-Fed ibhekele ukuchithwa kwemva emva kweMfazwe Yehlabathi II Yiloo nto eyenzeka emva kweMfazwe Yomhlaba kunye neMfazwe Yehlabathi I. Xa kuthe kwafika ukunyuka kwexabiso, uSihlalo weBusiness Reserve Bank yaseFiladelphia wayefuna ukunyusa inzala yokumelana nayo.
U-Eccles, owayesebenze noMongameli uRovelvelt ukulwa nokuDakumba okukhulu , wamsola. Kwakhona, iSebe lezeNondyebo linyanzelise iFed ukugcina amazinga omdla aphantsi. Kwafuna ukuhlawula ityala likaRhulumente weMfazwe Yehlabathi II ngexabiso eliphantsi.
UThomas McCabe (1949 - 1951) wadala isikhundla esizimeleyo se-Federal Reserve namhlanje.
Waxoxisana noMgaqo-mali we-Treasury-Federal Reserve kunye noLawulo lweTruman. Ukuphelisa uxanduva lwe-Fed ukwenza imali yeTyala le-US . Iirhafu zenzalo ephantsi zivumela urhulumente wephondo ukuba asebenzise ngaphezulu. Oku kwandisa imali .
UWilliam McChesney uMartin, uJr (ngo-1951-1970) walwa ngokunyuka kwamaxabiso emali kunye nomgaqo-mali we-contractionary policy . Wayengowokuqala osimeleyo ophethe i-Fed. Wazuza i-6% yexabiso lentengo kodwa wayilwa ngempumelelo kwaze kwaba ngo-1968. Wakhuphula izinga lokunciphisa ngo-1965, nangona ukuphikiswa kukaMongameli uLyndon Johnson . Kodwa ukusetyenziswa kweLBJ kwi-Great Society kunye neVietnam yaseVietnam kwakha i-4.7 yepesenti yokunyuka kwamaxabiso ngo-1968. AmaMerika athengisa ukungena kwamanye amazwe, athumela iidola ngaphesheya kwelizwe. Iibhanki zamanye amazwe zatshintsha iidola zegolide nge-1944 yesivumelwano seBretton Woods. Oko kwakusongela ukukhupha iindawo zokugcina zegolide zase-US e-Fort Knox. Imali ephakanyisiweyo yeFed ekomelezeni ixabiso lentela. Kodwa oko kwakha umda.
U-Arthur Burns (ngo-1970 - 1979) waba ngu-Fed Chair ngexesha le-Inflation Great, ixesha lika-1965 ukuya ku-1982. Ngomfutshane, umgaqo-nkqubo wezemali olula kule nkxaso wanceda ukunyuka kwexabiso lokunyuka kwamaxabiso nokunyuka kwamaxabiso. Ekubuyiseleni, xa ukunyuka kwamaxabiso kuqala ukunyuka, abenzi bomgaqo-nkqubo baphendule ngokukhawuleza.
Ukuphendula okulibaziseko kukhokelela ekutyekeni kwemali. Wazama ukungafuni ukulwa nomgaqo-nkqubo wezopolitiko kaMongameli we-Nixon . Ngowe-1972, uNixon wamisela ukulawulwa kwamanani omvuzo ukuyeka ukunyuka kwamaxabiso. Esikhundleni salokho, kwandisa ukwanda komnotho. Amashishini akakwazanga ukuphakamisa amaxabiso, ngoko abeka abasebenzi. Abasebenzi abazange bakwazi ukuvuka, ngoko banciphisa imali. Ukutshisa kwehlisa inzala yemigangatho yokulwa nokunciphisa umnotho, kodwa oko kwandisa ukunyuka kwamaxabiso. Xa ephakamisa amaxabiso, yanciphisa ukukhula koqoqosho. Ekupheleni kwekota yakhe, iUnited States yahlushwa yi-stagflation.
UPoly Volcker (1979-1987) walwa nama-10 ekhulwini wexabiso lokunyuka kwamaxabiso ngonyaka ngokuphakamisa i-Fed imali ukuya kuma-20 ekhulwini kwaye igcinwe apho kude kubekho ukunyuka kwamaxabiso. Ngelishwa, kwakha ukukhula kwemali ka-1981. I-Volcker ithathe le nyathelo elimangalisayo kwaye lilungele ukuvumela wonke umntu ukuba akholelwe ukuba ukunyuka kwamaxabiso okunokuthi kunokwenziwa.
U-Alan Greenspan (1987-2006) wakhuthaza uqoqosho lwe-laissez-faire . Yilapho iFed ayizami ukwenza i-micromanage kwezoqoqosho. Iyanamathela kwiinjongo ezibanzi zokukhuthaza uqoqosho ngelixa uphepha ukunyuka kwamaxabiso. Wayexhomekeke ngokukodwa kwimilinganiselo yemali eyondliwe ukufeza injongo zakhe.
Ukulwa nokunciphisa i-2001, uGreenspan wehlise ixabiso lokunyusa imali kwi-1,25 pesenti. Oku kwaye kwanciphisa ixabiso lesenzalo kwi-mortgage rate. Iintlawulo zazingabizi kuba iirhafu zenzalo zisekelwe kwintlawulo yebhanki ye-Nondyebo yexesha elifutshane, esekelwe kwisantya semali esondliwe.
Abaninimzi abaninzi bezindlu ababenakho ukufumana iimali zokuhlala eziqhelekileyo babenwabile ukuvunyelwa kule mboleko-mboleko kuphela . Ngenxa yoko, ipesenteji yee-mortgage eziphantsi komhlaba ziphindwe kabini, ukusuka kwi-10 ukuya kwi-20 ekhulwini, kuzo zonke i-mortgages phakathi ko-2001 no-2006. Ngo-2007, ikhulile ibe yi-$ 1.3 trillion. Ukudalwa kwamasheya okuxhaswa ngemali kunye neemarike zesekondari zanceda ekupheleni kwe-2001.
Abantu abaninzi abazange baqaphele ukuba iintlawulo zabo zihlala kuphela kwizinga eliphantsi kwiminyaka emithathu ukuya kwemihlanu yokuqala. I-Greenspan ikhulise amanani ngo-2004 ukulwa ne-3.3 ekhulwini lokunyuka kwamaxabiso. Wabakhulela kuma-4.25 ekhulwini ngo-2005 kunye ne-5.25 ekhulwini ngoJuni ka-2006. Ekupheleni konyaka, ukunyuka kwamaxabiso kwimivuzo engama-2.5 ekhulwini.
Isantya seGreenspan senyuka sithintela aba babolekisi-mali xa ireyithi isetyenziselwa kwakhona. Abanini bezindlu bahlaselwa iintlawulo abazange bakwazi ukuzenza. Ngelo xesha, amaxabiso ezindlu aqala ukuwa, ngoko awakwazi ukuthengisa. Oko kwakha ukukhawuleza okukhulu. Ngokulinda ixesha elide ukuphakamisa amaxabiso, uGreenspan wanceda ekubangela inkathazo yezimali ka-2008 .
UBen Bernanke (ngo-2006 ukuya ku-2014) wazisa ngokusemthethweni ukusebenzisa iinjongo zokunyuka kwamaxabiso njengendlela yokubeka ulindelwe uluntu kwizenzo ze-Fed. Wasebenzisa phambili ulwalathiso lokulawula ulindelo loluntu lokunyuka kwamaxabiso. Ubungcali bakhe babenendima ye-Fed kunye nomgaqo-nkqubo wezemali kwiNgxaki. Wadala amatsha amaninzi amatsha e- federal amathuluzi okulwa neengxaki zemali ka - 2008 .
UJanet Yellen (ngo-2014-2018) waqalisa ukuhlala kwakhe ngokubamba ukuthengwa kwe-Fed ye-Treasurys njengoko wayonakalisa ukunciphisa ubuninzi . Esikhundleni sokunyuka kwamaxabiso, uYellen kwafuneka alwe neempembelelo ezichasayo.
UJerome Powell (2018 - 2022) wakhethwa nguMongameli uTrump. Ekubeni sele ebengumalungu webhodi le-Fed kusukela ngo-2012, unokuthi aqhubeke nomgaqo-nkqubo kaYellen wokumisela ixabiso lentengo. I-Fed ithanda ukufumana isantya semali esondliwe kwi-2.0 ekhulwini. Inika iFed amandla okunciphisa amaxabiso ukuba kukho enye imali. Kwakhona ivumela iibhanki ukuba zihlawulise ngokwaneleyo iimali-mboleko zokwenza inzuzo efanelekileyo. Abasindisi bancedwa ngamanani aphakamileyo, oko kunceda kakhulu abahlala phantsi.