William Marshall of Goldman Sachs, a bank, calculates that the implied inflation risk premium-in effect, the price of insuring against very high inflation-has risen.

高盛的威廉马歇尔（William Marshall）计算得出，隐含的通胀风险溢价（也就是对抗极高通胀的价格）已经上升。

What Modern Monetary Theory does is to actually center inflation in the budgeting process so that we are all better protected against inflation risk.

现代货币理论所做的是实际上在预算过程中以通货膨胀为中心，以便大家都能更好地抵御通货膨胀的风险。

Although markets have not priced in much more long-run inflation yet, measures of inflation risk—which affects the term premium—have rebounded since falling earlier this year.

尽管市场尚未消化长期通胀的影响，但影响期限溢价的通胀风险指标自今年早些时候下降以来已出现反弹。