At that time, the Fed had cut the Federal Funds Rate to 1%, we had very low short rates.

当时联储局将联邦基金利率降至1%,短期利率非常低

耶鲁公开课 - 金融市场课程节选

But it means to cut short, to cut short and therefore get in a little bit earlier.

意思是突然停止,突然停止,然后提前一点进入

耶鲁公开课 - 聆听音乐课程节选