Should the Federal Reserve continue to monitor credit
近年来信贷总量波动异常，引发对信贷指标在货币政策中作用的质疑。实证表明，私人信贷成分可能为政策制定者提供有用信息。
The erratic behavior of credit aggregates in recent years has led to questions about whether any credit measure is useful in conducting monetary policy. Empirical evidence suggests that the private component of total credit may provide useful information to monetary policymakers.