伯南克被批操縱貨幣
美國《華爾街日報》編委會成員Mary O'grady在本月29日發表署名文章指出，聯儲局主席伯南克我行我素的貨幣政策是在操縱貨幣，聯儲局的超低利率政策和“量化寬鬆”政策引發全球資產泡沫風險，將衝擊到新興經濟體並危及美國自身的地緣政治目標。
該文指出，伯南克領導的聯儲局壓低美元幣值，在零利率的環境下，大量創造的美元流動性難以在美國找到足夠獲利機會，導致美元流動性外溢至巴西等新興經濟體。歷史經驗表明，大量流動性造成的資產泡沫將造成新的金融危機，並使實體經濟發展受害，伯南克的貨幣政策除了給中等收入國家帶來經濟衝擊外，也將危及到美國自身的地緣政治目標。
原文節錄如下：
Ben Bernanke: Currency Manipulator
By MARY ANASTASIA O'GRADY
The dollar is our currency， but it's your problem.
—John Connally， U.S. Treasury Secretary， 1971
In the final televised presidential debate， Mitt Romney promised that if he is elected on Nov. 6 he will "label China a currency manipulator" on "day one" of his presidency. He also pledged to pay more attention to trade with Latin America， noting that the region's "economy is almost as big as the economy of China."
To be consistent， Mr. Romney should call out the Federal Reserve on day two for engaging in its own currency manipulation by way of "quantitative easing，" which undermines the value of the dollar relative to Latin American currencies. After all， no one can expect a healthy trade relationship with the region if the Fed is goading U.S. trading partners into competitive currency devaluations.But that's not the main reason why a new U.S. president should want to rein in the Fed. The greater worry is the one that International Monetary Fund Managing Director Christine Lagarde warned about at the IMF's October meeting in Tokyo. Easy money from the central banks of developed countries， she said， creates the risk of "asset price bubbles" in emerging economies.
If history is any guide， such bubbles are likely to lead to financial crises that in turn lead to setbacks in development. Aside from the damage that does to middle-income countries like Brazil， emerging-market financial crises also undermine U.S. economic and geopolitical objectives.
From September 2008 through the end of 2011， Mr. Bernanke's Fed created $1.8 trillion in new money. But Fed policy makers were only warming up. In September they announced that they will engage in a third round of quantitative easing—that is， more money creation， ostensibly to spur growth and thus bring down unemployment—at a rate of $40 billion per month with no deadline.
With so many dollars sloshing around in U.S. banks and with a fed-funds rate set near zero， investors have found it hard to earn a decent return. The scavenger hunt for yield has sent dollars rushing into emerging markets where， as they are converted into local currency， they put upward pressure on the exchange rate.
In Mr. Bernanke's remarks at the IMF meeting in Tokyo， he suggested that emerging economies ought to simply let their currencies appreciate rather than "resist appreciation" through "currency management." To do otherwise， he noted， can mean "susceptibility to importing inflation，" which means making Brazilians poorer.
In Tokyo， Mr. Bernanke spoke to the world the way former U.S. Treasury Secretary John Connally spoke to the G-10 in Rome in 1971 after the U.S. abandoned the Bretton Woods agreement that had tied the dollar to gold: Get over it. We do what we want.
That attitude wasn't constructive for Americans or the rest of the world. If some future U.S. president intends to restore American prestige in economic leadership， restoring Fed credibility as a responsible manager of the world's reserve currency is a necessary first step.