This new round of central-bank activism reflects persistent concerns about economic growth. Despite a once-unthinkable amount of monetary stimulus, global output remains well below potential, with the potential itself at risk of being suppressed.
这一新一轮央行积极主义反映了对经济增长的持久担忧。尽管采取了此前不可想象的货币刺激，但全球产出仍显著低于潜力，而潜力本身也有遭到抑制的风险。