Yes, the inertial expectations of the economy have combined with monetary policy to distort interest and inflation rates, but not in the direction that Taylor is proposing. On the contrary, compared to what is needed (given the current state of the economy) or to what a free-market, flexible-price economy in proper equilibrium would deliver, interest rates are too high and inflation is too low.
唯一可能的应对措施是依靠逻辑和证据。给定真实经济条件，欧洲和美国货币政策并不过于宽松；如果真有“过于”的话，那也是过于限制性。“自然”利息——可以用瓦尔拉一般均衡方程组求得——实际上要低于当前货币政策所产生的利息。诚然，经济的惯性预期（inertial expectations）与货币政策一起扭曲了利率和通胀率，但扭曲方向与泰勒的主张并不相同。相反，与（在当前经济状态下）需要什么或合理均衡状态所能产生的自由市场、弹性价格经济相比，利率太高而通胀太低。