Emerging studies on the risk-taking and asset-price inflation engendered by ultra-low policy rates will eventually convince Fed policymakers to change their stance. But, if politicians are to become less anxious about jobs, perhaps we need to start discussing whether jobless recoveries are here to stay, and whether the US safety net, devised for a different era, needs to be modified.
在由极低政策利率所引发的高风险行为和资产价格通胀方面不断涌现的研究将最终说服美联储的政策制定者去改变他们的立场。但如果政客们能对就业问题不那么急功近利的话，或者就是我们开始讨论失业性复苏会否持续，而只为过去某个特定时期所设计的美国社会安全网是否需要改革的时候了。