Read his explanation.
My generic meaning of a liquidity trap: The Fed's every day trading activity activities cannot create inflation.
The Fed can scare us for a while, making us have temporary hysterical fears of higher oil prices, for example. But as soon as the Fed scare appears, it disappears as we readjust oil allocations and exchange rates Congress can create inflation, but only until the next election. Fortunately we have just enough democracy to stop Congress.
Like everything else, the Fed has to deal with a production chain to deliver inflation, but a bank production chain designed to deliver inflation, by definition, can never exist, right? I mean, if we had a banking system designed to make money useless, then it wouldn't be a banking system.
So what does "low for an extended period" mean? It means that Ben has a Congress that wants a spending binge and the Fed has to accommodate until voters can throw the bums out.
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