Moreover, the Fed’s approach is severely compromised by the so-called zero bound on interest rates. Having run out of basis points to cut from interest rates, the Fed has turned to the quantity dimension of the credit cycle – injecting massive doses of liquidity into the collapsed veins of zombie consumers.
此外，美联储的办法严重受制于所谓的零利率极限。降息空间用完后，美联储不得不转向信用周期的量化手段——给僵尸消费者已经崩溃的经脉注入大规模流动性。