就业率很高，而通货膨胀则处于蛰伏期。

Employment was strong and inflation dormant.

youdao

想想1982年的下半年，黄金价格猛涨而通货膨胀在下跌。

Consider the second half of 1982, when gold jumped even as inflation was falling.

youdao

从2000年到2008年，黄金价格几乎翻了两倍，而通货膨胀却很稳定。

From 2000 to 2008, gold nearly tripled in price, while inflation was largely quiet.

youdao

So central banks around the world began to manage became managers of inflation rather than defenders of a gold standard.

所以，世界各地的中央银行,开始管理，成为了通货膨胀的管理者,而不是金本位制度的守卫者。

耶鲁公开课 - 金融市场课程节选