Name: 何兆ドルも印刷してもインフレにならない理由 (Why Printing Trillions of Dollars May Not Cause Inflation)
Uploaded: 2021-01-14T11:19:20.000Z
Duration: 10 min 43 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

Central banks around the world have injected money

into the economy at a record pace to try to fight

a global recession triggered by the coronavirus

pandemic. Just getting word from the Federal

Reserve. Bombshell announcement from the Federal

Reserve. It is an absolutely historic week both

in the terms of the speed of Fed purchases and, of

Since mid-March, the Federal Reserve's balance

sheet has ballooned from 4 trillion dollars to

around 7 trillion dollars, equal to about one

third of the value of the entire American

economy. A new CNBC survey showing that market

participants expecting trillions more in stimulus

At the same time, governments have enacted record

amounts of fiscal stimulus to boost economies

The infusion of cash into the financial system

has renewed concerns that inflation could surge.

As Milton Friedman said, inflation is always and

If you believe that, you look at the central bank

balance sheets exploding right now and you say

Supply shocks have driven up prices for some goods

Yet recent history suggests inflation is more

unemployment remains near record high levels and

While this certainly is quite a lot of disruption

to the supply side of the economy, that's likely

to be dominated by the huge hit to aggregate

demand. So how will trillions of dollars of

Inflation refers to an increase in the prices of

One well-known measure of inflation in the U.S.

is called the Consumer Price Index, or CPI.

The CPI is about the prices that we pay for

Economists say some inflation is healthy for the

economy. When the economy's growing, more

consumers and businesses are out spending money

This increase in demand results in higher prices.

Demand is an important factor in the outlook for

inflation. Generally, when unemployment is high

and consumer demand is weak, inflation is low.

Another factor that affects inflation is commodity

prices. If oil prices rise because there's a cut

in production, gas prices might increase too.

Consumer and business expectations about prices

are another piece of the inflation puzzle.

If a lot of people expect prices will rise in the

future, they might spend more now, ultimately

causing inflation. The level of actual inflation

that we get will be pretty heavily influenced by

the inflation rate that actors in the economies,

households, businesses, consumers, workers,

Like many other central banks around the world,

the Fed targets a 2 percent yearly inflation

rate. At that rate, a cup of coffee that costs 2

dollars this year would cost 2 dollars and 4

cents next year, not quite enough to break the

bank. Central banks adjust their policies

normally by changing interest rates to try to get

You definitely want to keep enough inflation so

you can still have enough space to raise and

Too much inflation isn't a good thing either.

As inflation rises, the money that you hold today

At a 15 percent inflation rate, for example, your 2

dollar cup of coffee today costs 2 dollars and 30

Think of how that would affect a bigger purchase

like a car. A ten thousand dollar purchase today

would cost eleven thousand five hundred dollars

next year. When the inflation rate is very

high, it is very difficult to make any calculation

Inflation concerns for now are to the downside.

The risks are to the downside, not to the upside.

That's because in a lot of parts of the economy,

Lockdown's have already depressed prices in the US

as consumers stay home and remain cautious about

The second biggest drop in headline inflation

Energy commodities down 20 percent, with a 20

There have been pockets of inflation in some

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何兆ドルも印刷してもインフレにならない理由 (Why Printing Trillions of Dollars May Not Cause Inflation)

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