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미국의 금융 안정성 위협하는 높은 채권 금리 437

੿੸ੋ दпਸ ыҊ ੓׮ח नഐ۽ ೧ࢳؾפ׮. ৘ܳ ٜয, ҃ઁ
о ஜ୓ী ٜযࢸ Ѫ੉ۄח ਋۰о ழ૑ݶ ై੗੗ٜ਷ ਤ೷ਸ ഥ
ೖೞӝ ਤ೧ ױӝ ଻ӂࠁ׮ ࢚؀੸ਵ۽ উ੹ೠ ੢ӝ ଻ӂਸ ؊
݆੉ ࢎѱ ؾפ׮. ੉۽ ੋ೧ ੢ӝ ଻ӂ੄ оѺ੉ য়ܰҊ ࣻ੊ܫ
਷ ڄয૘פ׮. ߈ݶ, ױӝ ଻ӂ੄ ࣻ੊ܫ਷ য়ܰѱ غয ৉੹ അ
࢚੉ ߊࢤೞח ѩפ׮. ࣻ੊ܫ ҋࢶ੉ ৉੹غݶ ࠁా 1~2֙ উী
҃ઁо ஜ୓ী ࡅ૕ Ѣۆ नഐ۽ ߉ইٜৈ૑ח Ѥ ੉۠ ੉ਬ ٸ
ޙੑפ׮. ٮۄࢲ ࣻ੊ܫ ҋࢶ੉ ৉੹غח ੌ੉ ߥয઎ਸ ٸ ޷Ҵ
੄ ҃ӝ ஜ୓ܳ ੹ݎೞח ӝࢎо ੗઱ ١੢೤פ׮. 2024֙ ࠆী

੉ ࣻ੊ܫ ҋࢶ ৉੹ yield curve inversion അ࢚੉ ੢ӝр ૑ࣘغ੗ ޷
Ҵ੄ ҃ӝ ஜ୓ ਋۰о ੺੿ী ׳೮णפ׮.
ࣻ੊ܫ ҋࢶ ৉੹੉ ಽܻח Ѥ uninvertedۄҊ ೤פ׮. ࣻ
੊ܫ ҋࢶ੉ ৉੹ع׮оب ҃ӝ ஜ୓ ਋۰о ࣻӒ۞ٜয ৉੹ അ
࢚੉ ׮द ಽ۷׮ח Ѫਸ ݈ೡ ٸ ੉ ױযܳ ॺפ׮. ੉ઁ ӝࢎ
ղਊਸ ੗ࣁ൤ ࢓ಝࠁѷणפ׮.

Earlier this year, the prospect of a seemingly inevita- 2
ble American recessionnthe result of rising interest
ratesnpeppered conversations across the financial
world. Now, with inflation falling rapidly, economic
growth looking strong and the Federal Reserve at least
slowing the pace of interest-rate rises, talk is instead of
a tGoldilocksu situation: an economy that is neither too

hot (with surging inflation) nor too cold (with unpleas-