In short, policies are becoming more unconventional, not less, with little clarity about short-term effects, unintended consequences, and long-term impacts. To be sure, QE and other unconventional monetary policies do have important short-term benefits.
简言之，政策变得越来越非传统，更有甚者，对它们的短期效果、不良后果和长期影响则越来越没有清晰的认识。说实话，QE和其他非传统货币政策的确带来了重要的短期益处。但如果此类政策维持太久，其副作用就会变得很严重，而长期成本则会变得相当高昂。