On the liability side of the Fed's ledger, excess reserves that pay close to zero interest have expanded by about $1 trillion.

在美联储资产负债表的负债部分，零利率的超额准备金增加了大约1万亿。

youdao

My baseline is that net household wealth will be on tear over the next few years as the asset side of the ledger pays-in increasing real dividends and the liability side of the ledger pays-out near negative real interest rates.

FORBES: Paul Krugman and Dark Matter

Another 40% on the liability side of the ledger was disastrous for them.

FORBES: It ain't over yet