Over the same 15-year period, financial markets have become unhinged, with a profusion of asset and credit bubbles leading to a series of crises that almost pushed the world economy into the abyss in 2008-2009. But rather than recognize, let alone respond to, pre-crisis excesses, the Fed has remained agnostic about them, pointing out that bubble-spotting is, at best, an imperfect science.
其结果往好了说是值得商榷。在这15年中，金融市场变得十分混乱，各种资产和信用泡沫导致了一系列危机，几乎在2008—2009年将世界经济推向万劫不复。但美联储并没有认识到危机前的过度情况，更不用说采取应对措施了，它一只持有不可知论，认为识别泡沫充其量只是不完美的科学。