The US Federal Reserve has, in my judgment, responded appropriately by reducing the federal funds interest rate sharply and creating a variety of new credit facilities. The low interest rate helped by making the dollar more competitive, but otherwise monetary policy appears to have lost traction because of the condition of the housing sector and the dysfunctional state of the credit markets.
我个人认为美联储的应对是得当的。它大幅降低了联邦基金的利率并创立了一系列新的信贷举措。低利率使美元更具竞争力，但因为房地产的现状和信贷市场的功能失灵，除此之外的货币政策似乎失去了牵引力。