这一批评对美联储来说恰如其分：它在2001年至2003年间持续降息，使利率低到1%并维持了一年，然后一成不变地以每季度四分之一个百分比的速度缓缓加息，这无疑是对房市繁荣火上加油。

That is most true of the Fed, which slashed rates between 2001 and 2003, held them at 1% for a year and then raised them in slow, predictable quarter-point steps, fuelling the housing boom.

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