In buying so much debt, they drove down the interest rate Washington had to offer, which in turn made credit in America cheap.

在买下这么多债券的同时，他们也使得华盛顿一再降息，这反过来使得美国的信贷越来越便宜。

youdao

With the Fed buying government debt to keep yields low and growing bank credit at a 10.6% annual rate to do so, he believes that the inflationary outcome seems quite obvious.

FORBES: Magazine Article

Fearing all markets could soon fall, El-Erian injected what he referred to as "Armageddon insurance" into HMC's portfolio for the first time by buying interest rate floors, or a wager that rates would fall, and betting, via credit default swaps, that companies could soon struggle to pay their debts.

FORBES: Magazine Article