诺贝尔奖得主的研究凸显了美联储透明度的价值。皇家瑞典科学院周一在斯德哥尔摩宣布本年度诺贝尔经济学科学奖得主为迈克尔·伍德福德和罗伯特·E·霍尔。|法新社-共同社乔纳森·莱文 2026年10月16日皇家瑞典科学院具有极佳的幽默感。
Nobel laureate’s research underscores the value of transparency at the Federal Reserve The Royal Swedish Academy of Sciences announces this year’s winners of the Nobel Prize in Economic Sciences, Michael Woodford and Robert E. Hall, in Stockholm on Monday. | AFP-JIJI By Jonathan Levin Oct 16, 2026 The Royal Swedish Academy of Sciences has a fantastic sense of humor.
就在美联储主席凯文·沃什将央行“前瞻性指引”变成禁忌用语之际，该院将诺贝尔经济学奖授予迈克尔·伍德福德——这一做法的思想奠基人之一，以及罗伯特·霍尔，其关于家庭预期的研究为伍德福德后来的研究奠定了基础。希望此奖能促使沃什重新考虑他对指引和透明度的十字军式反对。
At a time when Federal Reserve Chair Kevin Warsh has turned central bank “forward guidance” into a banned phrase, the academy awarded the Nobel Prize in economics to Michael Woodford, one of the intellectual fathers of the practice, and Robert Hall, whose research on household expectations provided a foundation for Woodford’s later research. Hopefully, the award will lead Warsh to reconsider his crusade against guidance and transparency.
自今年早些时候他被任命领导美联储以来，沃什一直坚持认为央行应“少说话”。他反复拒绝解释在经济形势变化时，负责设定利率的联邦公开市场委员会可能采取什么行动，即所谓的美联储反应函数。
Ever since he was tapped to lead the Fed earlier this year, Warsh has been adamant about the idea that the central bank should “stop talking so much.”He has repeatedly declined to provide an explanation of what the interest rate-setting Federal Open Market Committee might do in response to changing economic conditions, or what is known as the Fed’s so-called reaction function.