Similarly, after its policy of direct pressure failed in 1929, the Fed raised interest rates to rein in the stock market. Its attempt to prevent a bubble came at the cost of inducing a depression.
类似地，1929年，在直接压力政策失败后，美联储提高利率抑制股市。其阻止泡沫的努力的代价是引发了萧条。寻找更有效的宏观审慎政策的要点是避免这些悲剧性代价。