The most important issue, of which the Fed is keenly aware, involves the exit strategy for avoiding inflation once the economy has improved and short-term nominal interest rates are no longer zero.

美联储敏锐地意识到：一旦经济改善和短期名义利率不再为零，最重要的问题是涉及避免通货膨胀的退出策略。

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In short, no matter one's interest, any visitor is sure to enjoy his stay in Boston, hearth of American culture and still a leader in education, medicine, and music.

总而言之，不论你的兴趣为何，任何访客到波士顿这个美国文化重镇以及依然居教育、医学和音乐领导地位的城市游玩，都一定会玩得非常尽兴。

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Until the Great Recession, the Fed limited its purchases of Treasury paper to short-term bills that carry no interest rate risk.

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Wage stickiness could stop inflation falling much below 2%, and could justify the expectation of many economists that short-term interest rates will fall no lower than 2.75%.

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And, because the Fed is not involved in setting short-term interest rates, it creates no opportunities for arbitrage.

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