As a governor of the Fed earlier this decade, he was even more convinced than Alan Greenspanthat central Banks had no business raising interest rates to head off asset bubbles.

早年担任美联储理事之时，他比艾伦·格林斯潘更加坚信，中央银行不应该通过提升利率来消除资产泡沫。

youdao

The bursting of twin bubbles in the stock and real estate markets, accompanied by huge failures of financial institutions and a drop in confidence, has no more recent example than that of the 1930s.

股市和房市两大泡沫相继破裂，大批金融机构倒闭，人们信心衰退，最近一次出现这些情况便是30年代了。

youdao