The answer to all of these questions is: We really don’t know. Given the dubious benefits of still lower real interest rates, placing central-bank credibility at risk would be irresponsible.
所有这些问题的答案都是：我们实在不知道。既然进一步降低真实利率的好处并不确定，那么为此将央行信誉置于风险之中绝不是负责任的做法。