CAMBRIDGE – Inflation is now low in every industrial country, and the combination of high unemployment and slow GDP growth removes the usual sources of upward pressure on prices. Nevertheless, financial investors are increasingly worried that inflation will eventually begin to rise, owing to the large expansion of commercial bank reserves engineered by the United States Federal Reserve and the European Central Bank (ECB).
美国剑桥—眼下，所有工业国通货膨胀都很低，高失业和低GDP增长的组合也消除了价格上涨压力的常规原因。尽管如此，金融投资者仍在日益担忧通胀终究会开始上升，因为在美联储和欧洲央行推动下，商业银行准备金增加了许多。至少一部分投资者还记得，通胀抬头总是随着货币扩张而发生，他们担心这一回也不会有什么不同。