"Golden Fetters"

The "Golden Fetters" is a metaphor used by economist John Maynard Keynes to describe the constraints that monetary policy faces when interest rates are already very low. In such situations, central banks find it difficult to stimulate the economy further, because they can't lower interest rates much more without risking harmful effects. This limits their ability to use traditional tools to boost growth or combat downturns, effectively trapping the economy in a sluggish state—similar to being restrained by "golden" chains that are hard to break.