美联储从2025年12月12日起开始每月短期国库购买40B美元,以稳定货币市场和管理利率。 The Fed starts buying $40B in short-term Treasuries monthly from Dec. 12, 2025, to stabilize money markets and manage interest rates.

美联储将开始从2025年12月12日起每月以短期国库债券购买400亿美元,以管理流动性和保持对利率的控制。 The Federal Reserve will begin buying $40 billion in short-term Treasury bills monthly starting December 12, 2025, to manage liquidity and maintain control over interest rates. 这一行动是技术调整的一部分,它扭转了量化紧缩的结束,旨在抵消不断上升的储备需求,特别是在税收截止日期前后。 This move, part of a technical adjustment, reverses the end of quantitative tightening and aims to offset rising reserve demands, particularly around the tax deadline. 购买不是为了刺激经济,而是为了确保储备供应充足,稳定货币市场。 The purchases are not intended to stimulate the economy but to ensure an ample supply of reserves and stabilize money markets. 美联储预计于2026年晚些时候将速度降至每月200-250亿美元。 The Fed expects to reduce the pace to $20–$25 billion per month later in 2026. 这一行动是在削减25个基点利率之后采取的,是在担心金融系统压力,包括回购利率上升和美联储回购机制效力有限的情况下采取的。 The action follows a 25-basis-point rate cut and comes amid concerns over financial system stress, including rising repo rates and limited effectiveness of the Fed’s repo facility.