美联储结构受损 急需补救

2016-05-05 20:03:09

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华盛顿市场观察网报导,前美联储高官彼得·费舍尔也开始呼吁美联储改革。

费舍尔不是对“圣殿的秘密”表示不满的进步分子或自由主义者。他是知情人,他曾是美联储的工作人员,管理过纽约联储的公开市场,随后调至华盛顿担任财政部副国务卿,负责国内的金融市场。他的名字经常出现在更加高级的经济政策职位的决选名单上。

费舍尔在上周向影子公开市场委员会发表讲话时说道:美联储的决策和沟通程序已经受损,这种情况已经持续了一段时间。

他说:“如果美国最高法院像美联储那样运作,审判长先对重要决策做出暗示,其他法官则频频反对,那么美国就会变得十分‘尴尬’。”

华盛顿联储委员会目前共有七名成员,其中包括联储主席珍妮特.耶伦和副主席斯坦利.费希尔。

美联储旗下还设有12家地方联储,这些地方联储的主席是由各自的委员会选举出来的。

依据费舍尔的改革计划,只有美联储主席可以留在华盛顿,而12家地方联储则应被合并为8家。

9名官员全部由白宫提名、参议院批准,他们将负责制定相关的货币政策。

费舍尔说道:通过这些改革,我们的美联储更加尽职尽责、更加体察民情,还能更加有效地独立于政策周期之外。

费舍尔的计划与达特茅斯学院教授、曾任耶伦助手的安德鲁.莱文的提议不谋而合。他建议让地方联储的选举程序透明化,并禁止任何银行家担任地方联储主席等。莱文的提议已经被美联储改革激进组织“Fed Up”采纳。

布鲁金斯学会高级研究员萨拉·宾德尔致力于研究美联储与美国国会之间的关系,他认为只要美国经济状况依旧疲软,那么美联储改革的呼声仍将层出不穷。

宾德尔说道:只要经济增长不畅,就会有人质疑美联储的经济管理能力,就会有人呼吁美联储改革。如果经济状况有所改善,国会就会把注意力转向别处了。

Fed’s structure is broken and needs overhaul, former insider says

WASHINGTON (MarketWatch) — Peter Fisher, a former top Federal Reserve official, has joined the growing chorus calling for reform of the U.S. central bank.

Fisher is no progressive or libertarian upset with the secrets of the temple. He is a consummate insider, a former Fed staffer promoted to run the New York Fed’s open market desk who then moved to Washington to become Treasury under secretary for domestic finance under President George W. Bush. His name was often on the short-list for even more senior economic policy jobs.

“The Fed’s decision-making and communications process is broken and has been for some time,” Fisher said in a speech to the Shadow Open Market Committee last week.

If the Supreme Court functioned as the Fed does, with the chief justice hinting at key decisions while other justices gave frequent speeches that reflected profound disagreements, the nation would be “embarrassed,” he said.

At the moment, there are seven members of the Fed board of governors in Washington, including Fed Chairwoman Janet Yellen and Vice Chairman Stanley Fisher.

And there are 12 regional Fed banks, with presidents elected by their regional bank’s board, subject to the approach of the board of governors.

Under the reform plan outlined by Fisher, only the Fed chairman would remain in Washington. And the 12 regional Fed banks would be consolidated to eight.

The nine officials would all be appointed by the White House and confirmed by Senate. These nine officials would be responsible for monetary policy decisions.

“With these changes, I believe we would have a Fed that is both more accountable to our elected representatives, and one that is more effectively independent of the political cycle,” Fisher said.

Fisher’s plan joins a recent proposal from Andrew Levin, a fellow Dartmouth professor and former top Yellen aide. Levin has proposed making selection of regional Fed presidents more transparent and banning any banker from serving as a director of a regional Fed bank. His proposals have been adopted by the Fed Up coalition.

Sarah Binder, a senior fellow at the Brookings Institution who follows the Fed’s relationship with Congress, said proposals to reform the U.S. central bank will continue to mushroom as long as the economy remains weak.

“So long as economic growth remains seemingly stymied there are going to be people asking whether reform of the Fed would help improve the Fed’s ability to manage the economy. If the economy improves, Congress will turn its attention elsewhere,” Binder said.

本文翻译由兄弟财经提供

文章来源:http://www.marketwatch.com/story/feds-structure-is-broken-and-needs-overhaul-former-insider-says-2016-05-04

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