The US Federal Reserve faces a dilemma, for it needs to continue raising interest rates in the face of a hurricane-devastated economy. The Fed’s failure to raise rates earlier thus holds a powerful lesson for the European Central Bank: after a prolonged period of monetary stability at unusually low interest rates, waiting too long to raise rates to more normal and appropriate levels holds dangerous consequences.
美联储面临着两难的困境，因为它需要在美国经济遭到飓风摧残的时候继续提高利率。欧洲央行也需要借鉴美联储未能尽早提息的教训：在漫长的低利率货币稳定期过后，迟迟不把利率提高到更为正常和恰当的水平很可能带来危险的后果。