The tool was the short-term interest rate, the target was price stability.

这里说的工具就是短期利率，而目标则是物价稳定。

youdao

When it began, the Fed’s short-term rate at 5.25% was not particularly high.

当危机开始时，美联储5.25%的短期利率并不算很高。

youdao

When it began, the Fed's short-term rate at 5.25% was not particularly high.

当危机开始时，美联储5.25%的短期利率并不算很高。

youdao

Of course, the short-term interest rate isn't the cost of capital;

当然，短期利率不是资金成本；

youdao

Of course, the short-term interest rate isn't the cost of capital;

当然，短期利率不是资金成本；

youdao