Crisis management has resulted in major market distortions, with some segments’ performance no longer explainable by fundamental economic data. The unintended consequences of this policy are increasingly visible – and will become increasingly tangible with the US Federal Reserve’s exit from post-2008 ultra-loose monetary policy.
法兰克福&mdash;欧洲央行正在实施一项大型高风险实验。如今，关键利率保持近零水平已有六年。金融市场充斥着流动性。危机管理导致了巨大的市场扭曲，一些细分市场的表现已不再能用经济基本面数据解释。这一政策的意外后果正变得日益清晰，随着美联储退出其2008年以来的极度宽松政策，其后果还会变的更加明确。