Because many contracts are “sticky" (that is, not easily revised) in monetary terms, inflation and deflation would both inflict damage on the economy. Rising prices reduce the value of savings and pensions, while falling prices reduce profit expectations, encourage hoarding, and increase the real burden of debt.
这一观点的逻辑似乎无懈可击。因为许多合同在你货币条件上“刚性”的（即不容易修改），所以通胀和通缩都会给经济造成伤害。物价上升减少储蓄和退休金的价值，而物价下跌减少利润预期、鼓励囤积、增加债务的实际负担。