The return to full employment reflects the Federal Reserve’s strategy of “unconventional monetary policy” – the combination of massive purchases of long-term assets known as quantitative easing and its promise to keep short-term interest rates close to zero. The low level of all interest rates that resulted from this policy drove investors to buy equities and to increase the prices of owner-occupied homes.
回归充分就业反映了美联储的“非常规货币政策”——被称为量化宽松的大规模长期资产购买计划与承诺将短期利率维持在近零水平的组合。这一政策让所有利率都呈现出低水平，促使投资者购买股票，并提高了自住住房的价格。结果，2013年美国家庭净财富增加了10万亿美元，促使消费支出和商业投资增加。