In times of uncertainty, central bankers have often invoked the “Brainard conservatism principle”. Coined by economist William Brainard in 1967, it recommends that when monetary policymakers are unsure of the effects of their interest rate policies, they ought to react by less than they would with greater certainty. As the US Federal Reserve discusses whether to initiate the rate-cutting cycle with a reduction of 25 or 50 basis points at its meeting this week, the principle would appear to give a clear answer.
在不确定时期，央行行长们经常引用“布雷纳德保守主义原则”。该原则由manbetx20客户端下载 学家威廉•布雷纳德(William Brainard)于1967年提出，建议当货币政策制定者对其利率政策的效果不确定时，他们应采取比在确定情况下更小的反应。随着美联储(US Federal Reserve)在本周会议上讨论是否通过降息25或50个基点来启动降息周期，这一原则似乎给出了明确的答案。
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