That in itself may have a depressing effect on the economy, partly offsetting the monetary stimulus. Indeed, it may be one reason why highly expansionary policies by the Fed and other central banks have taken so long to generate growth.
这本身就可能对经济产生抑制作用，部分抵消货币刺激。事实上，这也许是美联储和其他央行的高度扩张性政策迟迟不能推动增长的原因之一。