Monetary policy rules should be designed to avoid the pitfalls of discretionary policy, which often leads to time inconsistency.
货币政策规则的设计应避免自由裁量政策的陷阱,后者往往导致时间不一致性。
To understand is to perceive patterns.
"The best and most beautiful things in the world cannot be seen or even touched - they must be felt with the heart."
The fact remains that getting people right is not what living is all about anyway. It's getting them wrong that is living, getting them wrong and wrong and wrong and then, on careful reconsideration, getting them wrong again.