Generally it has been inflationary after 1933; central banks have generally gradually allowed prices to rise.

大体上在1933年之后，一直处于通货膨胀时期；,中央银行大都,渐渐将价格抬高。

耶鲁公开课 - 金融市场课程节选

The basic idea that's developed is that the Fed is looking at inflation and unemployment as the two major things that it looks at.

基本的观点是,美联储正在将通货膨胀和失业视为,两件重要的事情。

耶鲁公开课 - 金融市场课程节选

So that would mean that the Fed should be raising interest rates to try to tighten up the economy and bring the inflation rate down.

所以，这意味着,美联储应该提升利率,以试图加强经济,并且将通货膨胀率降低。

耶鲁公开课 - 金融市场课程节选

What caused it? It was caused maybe it's oversimplifying it it was caused by a change in our resolve to let's get inflation under control - and a willingness to accept the recession to stop the advance of inflation.

是什么引发了它,它是因为-也许过分的单纯化它,它是由于一个为了,让我们将通货膨胀控制在手中的解决方案,和一个接受经济衰退的愿望,结束通货膨胀的继续上涨所导致的。

耶鲁公开课 - 金融市场课程节选

Central banks around this time I think it was under the leadership of Paul Volker who was the Federal Reserve Chairman they raised interest rates to kill inflation and they threw the world into a huge recession.

在这个时期，中央银行,我认为正处于保罗？沃尔克的领导之下,保罗是美联储的主席,他们提升了利率来抵制通货膨胀,然而却将整个世界都卷入了一场巨大的经济衰退。

耶鲁公开课 - 金融市场课程节选

You get nineteen times your money over eighty-one years, but then if you take into account the inflation consumes a multiple of eleven and you're an institution like Yale that consumes only after inflation returns, putting your money into treasury bills really didn't get you very much.

1年后你的钱翻了19倍,但是如果考虑通货膨胀,在此期间侵蚀了11倍的收益,而且如果你是像耶鲁这样,减去通货膨胀调整到实际回报后再论支出,那么将钱投资于短期国库券,不会让你赚得多

耶鲁公开课 - 金融市场课程节选