高的失业率掩盖着通货膨胀的指标，而这些指标常常引导政策的制定。
High unemployment has kept a lid on the measures of inflation that usually guide policy.
货币史历来的教训是通货膨胀率涨得越高则引导其回归正轨的代价就越为高昂。
The abiding lesson of monetary history is that the higher inflation gets, the costlier it becomes to bring down again.
它引导着量化宽松在2009年到2012年——这一通货膨胀始终高于预期的时期内运行。
It conducted QE operations from 2009 to 2012, a period when inflation was consistently above target.
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