But the Fed’s policy gambit has taken the US down the wrong road. Indeed, the Fed has doubled down on an approach aimed at recreating the madness of an asset- and credit-dependent consumption model – precisely the mistake that pushed the US economy toward the abyss in 2003-2006.
但美联储的政策算盘把美国引上了错误的道路。事实上，美联储的做法无异于制造更大的依赖于资产和信用的疯狂消费模式——这正是2003—2006年将美国经济推向深渊的错误。