The idea that hyper-low interest rates are merely symptoms of deficient demand or financial repression is dangerously simplistic. Surely heightened public concern about the risk of future economic catastrophe in the wake of the financial crisis is still playing an important role, reinforced by lingering fragility in the eurozone and rising instability in emerging markets.
将超低利率仅仅归结于需求不足和金融抑制的认识简单得有些草率。公众对金融危机后未来经济灾难的担忧仍起到很大作用，欧元区持续脆弱和新兴市场动荡增强都证明了这一点。因此公众的态度谨慎不难理解。但如果能解释股债走势的风险因素切实存在，那么决策者也不应该过于乐观。