For many years now the new Keynesian elite has been assuring us that we would never make the same mistake as the BOJ, that our Fed would not sit by for year after year with sub-par NGDP.

• 多年来，新凯恩斯主义精英已向我们确保，我们绝不会再犯像日本央行那样的错误，我们的美联储不会坐视年复一年与低于名义GDP增长。