▁Post - Ke yn es ians ▁respond ▁that ▁the ▁confusion ▁by ▁" main stream ▁econom ists " ▁between ▁conditions ▁of ▁a ▁liquid ity ▁trap , ▁as ▁defined ▁by ▁Ke yn es ▁and ▁in ▁the ▁Post - Ke yn esian ▁framework , ▁and ▁conditions ▁of ▁near - zero ▁or ▁zero ▁interest ▁rates , ▁is ▁intent ional ▁and ▁ide olog ically ▁motiv ated ▁in ▁ost ens ibly ▁attempting ▁to ▁support ▁mon et ary ▁over ▁fis cal ▁policies . ▁They ▁argue ▁that , ▁quant itative ▁eas ing ▁programs ▁in ▁the ▁United ▁States , ▁and ▁elsewhere , ▁caused ▁the ▁prices ▁of ▁financial ▁assets ▁to ▁rise ▁across ▁the ▁board ▁and ▁interest ▁rates ▁to ▁fall ; ▁yet , ▁a ▁liquid ity ▁trap ▁cannot ▁exist , ▁according ▁to ▁the ▁Ke yn esian ▁definition , ▁unless ▁the ▁prices ▁on ▁imper fect ly ▁safe ▁financial ▁assets ▁are ▁falling ▁and ▁their ▁interest ▁rates ▁are ▁rising . ▁The ▁rise ▁in ▁the ▁mon et ary ▁base ▁did ▁not ▁affect ▁interest ▁rates ▁or ▁comm od ity ▁prices . ▁ ▁T aking ▁the ▁preced ent ▁of ▁the ▁Global ▁Fin an cial ▁Cris is ▁of ▁ 2 0 0 8 , ▁critics ▁of ▁the ▁main stream ▁definition ▁of ▁a ▁liquid ity ▁trap ▁point ▁out ▁that ▁the ▁central ▁bank ▁of ▁the ▁United ▁States ▁never , ▁effectively , ▁lost ▁control ▁of ▁the ▁interest ▁rate . ▁Where as ▁the ▁United ▁States ▁did ▁experience ▁a ▁liquid ity ▁trap ▁in ▁the ▁period ▁ 2 0 0 9 / 1 0 , ▁i . e . ▁in ▁" the ▁immediate ▁after math " ▁of