Fourth, central banks, especially in the US, mistakenly maintained loose monetary policy. With dollar financing by the Federal Reserve available to large institutions, the Fed became the equivalent of a world central bank.
第四，各中央银行，尤其是美国央行，错误地维持了宽松的货币政策。美联储向各大金融机构提供美元，由此相当于扮演了世界央行的角色。