Within its two-year policy horizon, the monetary policy committee had to ignore the risks of such long-term feedback effects, via credit, money and asset prices.

货币政策委员会为期两年的政策时限使其对于风险的长效反馈(通过信贷，货币以及资产价格)只能视而不见。

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Economies where inflation and credit growth are already high and budget deficits large, such as India, have less room to ease monetary or fiscal policy if the economy weakens.

那些例如印度这样的通胀和赤字增长高企，财政赤字又大的经济体，一但经济走弱缓冲货币或财政政策的空间较小。

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China's fairly primitive financial infrastructure makes it difficult to fine-tune credit through monetary and fiscal policy.

中国相对原始的金融基础结构使运用货币和财政政策调整金融贷款举步维艰。

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Rather than engaging in pure monetary policy to ensure long-run price stability and prevent erratic changes in nominal GDP, the U.S. central bank has engaged in fiscal policy by allocating credit to favored groups and thus politicized monetary policy.

FORBES: The Limits Of Monetary Policy Call For Moral, Sound Money

Each of these policies would help to raise short-term interest rates and limit the growth of broad measures of money and credit, thereby tightening monetary policy.

WSJ: Bernanke Op-ed in WSJ: The Fed��s Exit Strategy

The financial crisis has led to such a widening of credit spreads and tightening of credit standards that aggressive monetary policy easing has not been enough to contain the crisis.

WSJ: The Fed Still Has Plenty of Ammunition