One doesn’t need a long memory to understand how even relatively modest policy shifts can trigger outsize market reactions. Consider, for example, the “taper tantrum” that roiled financial markets in the spring of 2013, after then-Fed Chair Ben Bernanke said only that policymakers were thinking of gradually ending quantitative easing.
不需要很久远的记忆就能理解相对温和的政策变化如何引发市场的剧烈反应。比如，2013年春金融市场出现了一次“锥形崩盘”，原因只是时任美联储主席伯南克（Ben Bernanke）说决策者正在考虑逐渐停止量化宽松。