The Fed was late in beginning the interest-rate normalization process, and it is now paying a price. The ECB must not make the same mistake, even bearing in mind that the two central banks operate in different milieus and under different constraints.
美联储迟迟不肯开始利率正常化的过程，现在它要为此付出代价。即便与美联储有着不同的经营环境和限制条件，欧洲央行也绝不能犯同样的错误。