Policymakers will have to worry about a strange beast called “stag-deflation” (a combination of economic stagnation/recession and deflation); about liquidity traps (when official interest rates become so close to zero that traditional monetary policy loses effectiveness); and about debt deflation (the rise in the real value of nominal debts, increasing the risk of bankruptcy for distressed households, firms, financial institutions, and governments).
决策者们将不得不担心一头叫做“滞缩”的怪兽（它是经济停滞/衰退和紧缩的综合体）；担心流动性陷阱（当官方利率趋近为零时，传统的货币政策就无效了）；担心债务紧缩（名义负债的实际价值增加，这会加剧受困的家庭，公司，金融机构和政府的破产风险）。