The Great Depression of the 1930’s, when the Fed stood idly by as the economy collapsed, is the molding event seared into the consciousness of every American central banker. As a result, the Fed responds aggressively when it perceives even a limited risk of another depression.
上世纪30年代的大萧条时期——当时美国经济崩溃，美联储却袖手旁观——是深深烙印在每一个美国中央银行家意识中的固化事件。结果，当美联储察觉到出现另一次萧条的一点点迹象时，它就开始积极反应。