"He has had tremendous courage throughout this episode," said Frederic S. Mishkin, a professor at Columbia University's business school and a former Fed governor.

“他在整个事件中表现出了的巨大勇气，”哥伦比亚大学商学院教授，前美联储理事弗雷德里克·米什金如是说。

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The Economist’s briefing also cited as an example of macroeconomic failure the “reassuring” simulations that Frederic Mishkin, then a governor of the Federal Reserve, presented in the summer of 2007.

“经济学人”精粹专栏还引用了一个例子来证明宏观经济学的失败，那就是时任美联储官员米什金（Frederic Mishkin ）在2007年夏天发表讲话，用模拟结论给公众一粒“定心丸”。

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Frederic Mishkin, a former governor of the Fed, said there were two sorts of bubbles: "credit boom" bubbles and "irrational exuberance" bubbles.

美联储前理事弗雷德里克·米什金(Frederic Mishkin)表示，泡沫有两种：“信贷繁荣”泡沫和“非理性繁荣”泡沫。

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Mr Mishkin, a former Fed governor, draws a contrast between credit-boom bubbles and irrational exuberance in stockmarkets, such as the dotcom bubble.

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Becca Mishkin, a resident of the Upper West Side in Manhattan, doesn't have a regular landline phone, so she relied on her cell phone to keep in touch with family.

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"Small losses in one sector of the credit market can have an outsized impact on aggregate economic activity, " said Federal Reserve Board Governor Frederic Mishkin at a conference in New York Friday.

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