来自《耶鲁大学开放课程：金融市场第14集第14集》

I think lots of economists think it's lower,

我相信许多经济学家也觉得这个数字偏低
but it's

就算是这样
headline inflation is higher than nominal interest rates.

这个通胀率也已经超过名义利率了
We have a very weak currency.

我们的货币趋于弱势
The dollar has gone

一美元在几年之内
from buying a little over 1 Euro to buying 2/3 of a Euro

从可以兑换一点多欧元跌至现在的三分之二欧元
in a couple of years and 130 Yen to 100 Yen,

从可以兑换130日元跌至现在的100日元
1.5 Australian Dollars to a little over 1 and the

从一点五澳元到现在几乎跌破一澳元
and in that scenario,

在这样的情况下
there are more problems than policy tools,

相比政策工具还有别的更多问题
so any policy action has a downside,

任何政策调控都会产生副作用
which makes it an interesting time.

造成了如今这个有趣的时期