「But he described Merrill as the victim of an」 unprecedented liquidity squeeze 'that started this summer.
不过他说,美林是今年夏天以来「史无前例流动性危机」的牺牲品。
With Fed governors admitting that the liquidity squeeze had intensified and traders betting on a recession, markets decided that another 50bp cut must be forthcoming.
The private cost to Banks of being light on liquid assets was clearly too low compared with the public cost that the liquidity squeeze produced in terms of instability and high interest rates.
With Fed rulers agreeing that the liquidity squeeze had intensified and traders betting on a recession, markets decided that variant 50bp cut must be imminent.
What might in normal times have been a brief liquidity squeeze became a death grip, as Banks ordered to keep record levels of funds in reserves to fight inflation withheld even routine loans.