The sharpening crisis confronting the monetary credit system together with soaring prices and high interest rates pose a grave problem.

货币信用制度危机激化及高物价、高利率是一个严重问题。

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The financial crisis has led to such a widening of credit spreads and tightening of credit standards that aggressive monetary policy easing has not been enough to contain the crisis.

WSJ: The Fed Still Has Plenty of Ammunition