#美联储货币政策 Looking back at the financial crisis in 2008, the Federal Reserve also frequently adjusted its monetary policy to respond to the deterioration of the labor market. Now history seems to be repeating itself, with Chairman Powell and Collins expressing concerns about the labor market. They warn that employment faces significant 下行 risks, which reminds me of the situation back then.

At that time, the unemployment rate soared, the economy fell into recession, and the Federal Reserve implemented large-scale quantitative easing. Although the situation is not as severe now, the labor market has begun to cool down, with not much hiring or layoffs. If it worsens further, it could likely trigger a chain reaction.

From historical experience, the Federal Reserve may take further measures such as lowering interest rates to support employment. Collins mentioned that a reduction of 25 basis points may be appropriate, which is similar to the approach taken during the crisis years. However, inflationary pressures still exist now, and there is not as much room for policy.

The key is to balance the two major goals of inflation and employment. Acting too quickly may lead to a rebound in inflation, while acting too slowly may put pressure on the job market. This requires decision-makers to carefully weigh their options and grasp the right pace of policy. History tells us that at turning points in the economy, every move made by policymakers is crucial.