The Fed might also consider policy in 1924-1927, when low interest rates fueled stock-market and real-estate bubbles, or 2003-2005, when interest rates were held down in the face of serious financial imbalances. At a minimum, the Fed might develop a “portfolio” of analogies, test them for fitness, and distill their lessons, as President John F. Kennedy famously did when weighing his options during the Cuban missile crisis in 1962.
美联储最好也要考虑一下1924~1927年期间的政策——当时的低利率推动了股市和房地产泡沫，或者2003~2005年期间的政策——当时金融失衡严重，利率被压制。至少美联储可以举出一个类比例子“列表”，测试它们的适用性并汲取经验，正如1962年约翰·F·肯尼迪（John F. Kennedy）在古巴导弹危机期间权衡选择时所做的那样。