The time inconsistency problem in monetary policy arises when policymakers have an incentive to deviate from their announced policy once economic agents have formed expectations.
货币政策中的时间不一致性问题出现在政策制定者一旦经济主体形成预期后，就有动机偏离他们宣布的政策。
最好的故事是提出问题而非解答问题的故事。
The whisper of leaves carries more wisdom than boardroom debates.
I will hazard a prediction. When you are 80 years old， and in a quiet moment of reflection narrating for only yourself the most personal version of your life story， the telling that will be most compact and meaningful will be the series of choices you have made. In the end， we are our choices. Build yourself a great story.
The more precise the language, the more mysterious the world becomes.
The key to solving complex problems is often to find the right abstraction that simplifies the problem without losing its essential features.