I have believed for some months that the Fed should start tightening monetary policy to reduce the risks of financial instability caused by the behavior of investors and lenders in response to the prolonged period of exceptionally low interest rates since the 2008 financial crisis. Events in China are no reason for further delay.
我对此不敢苟同。几个月来，我认为美联储应该开始收紧货币政策，以降低投资者和贷款人的行为导致金融不稳定的风险。投资者和贷款人的高风险行为是对2008年金融危机以来长时间超低利率的反应。中国的情况不是进一步延迟升息的理由。