cover of episode The U.S. economy's biggest superpower, explained

The U.S. economy's biggest superpower, explained

2023/12/11
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Yesha Yadav
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Yesha Yadav: 美国国债是美国经济的超级力量,因为它允许美国以极低的成本借贷,即使在金融体系面临崩溃时也能如此。这种低成本融资能力使美国能够轻松应对危机,而其他国家则面临更高的借贷成本。 美国国债是全球金融市场稳定的基石,其安全性被监管机构视为维持金融机构稳定的关键。多德-弗兰克法案等法规要求金融机构持有大量美国国债作为高质量流动资产,以确保其稳定性。 美国国债在金融市场中被广泛用作抵押品,简化了金融机构之间的借贷流程,降低了交易的风险和成本。回购协议市场依赖于美国国债的无风险性和高流动性,对金融体系的稳定至关重要,但其监管依赖于美国国债的无风险性和高流动性,缺乏对国债使用情况的全面追踪,存在潜在风险。 同一张美国国债可能被多次用作抵押品,增加了系统性风险。监管机构无法完全追踪美国国债在回购市场中的使用情况,增加了系统性风险。 美国国债在各种金融产品和投资策略中扮演着重要角色,对金融市场的稳定和流动性至关重要。它是解锁信贷和流动性的关键因素,对维持现有的金融体系至关重要。 对美国国债安全性的普遍信任是维持当前金融体系运作的关键,一旦这种信任被打破,后果将不堪设想。政治家对美国国债的处理方式可能对经济造成灾难性后果。

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What if you could borrow money on the cheap and use it to pay for just about anything? The U.S. government can, and does, with U.S. Treasuries. But the market for Treasuries might be more fragile than we know. In this episode, Yesha Yadav of Vanderbilt Law School explains why. This episode was first published as a bonus episode for our Planet Money+ listeners. Today we're making it available for everyone. To hear more episodes like this, and to hear Planet Money and The Indicator without sponsor messages, support the show by signing up for Planet Money+ in Apple Podcasts) or at plus.npr.org/planetmoney).Learn more about sponsor message choices: podcastchoices.com/adchoices)NPR Privacy Policy)