Most recently--A few years ago, we were living in a regime of negative real interest rates, when the Fed was pursuing a very aggressive monetary policy.

就在最近几年之前,我们生活在,负实际利率的政策中,当时美联储追求一种,非常激进的货币政策

耶鲁公开课 - 金融市场课程节选

In recent years, there have been more examples of things that are priced too high than things that are priced too low but there are both and the market makes mistakes in both directions.

在最近的几年里，有更多的例子表明,市场价格是偏高了而不是被偏低了,但是其实两种现象都存在,同时市场也在两个方向上都犯了错误。

耶鲁公开课 - 金融市场课程节选