U.S. economy impacted by European crisis: Fed chairman

 　　WASHINGTON, March 21 (Xinhua)-- The crisis in the euro zone has sent shocks to the United States through trade and financial channels, given the important cross-Atlantic economic linkage¹, U.S. Federal Reserve Chairman Ben Bernanke said Wednesday.

　　"The European Union accounts for roughly one-fifth of U.S. exports of goods and services. The U.S. exports to Europe over the past two years have underperformed our exports to the rest of the world," Bernanke said in a testimony² before the House Committee on Oversight³ and Government Reform.

　　"In addition, weaker demand from Europe has slowed growth in other economies, which has also lowered foreign demand for our products," he added.

　　Bernanke noted⁴ that besides trade, financial strains in Europe have also shown through to U.S. financial markets. Although the U.S. financial firms and monetary⁵ market funds have had time to adjust their exposures and hedge their risks to some degree as the European situation has evolved, the risks of contagion⁶ remain a concern, he said.

　　Bernanke highlighted the actions taken by European policymakers, saying that they helped lessen⁷ financial stresses in Europe in the past few months and contributed to an improved tone of financial markets around the world, including the United States.

　　"However, Europe's financial and economic situation remains⁸ difficult, and it is critical that the European leaders follow through on their policy commitments to ensure a lasting⁹ stabilization," Bernanke stressed.

　　He said the Federal Reserve would continue to monitor the situation closely and be ready to help stabilize¹⁰ U.S. markets if necessary.

　　U.S. Treasury¹¹ Secretary Timothy Geithner, who also testified before the committee, reiterated¹² that it is in the interest of the United States that the International Monetary Fund (IMF) is able to continue to play a constructive¹³ role in Europe.

　　However, IMF resources cannot substitute for a strong European response, he added.

1 linkage   

n.连接；环节

参考例句：

• In their monographic treatment of linkage,they have emphasized this especially.他们在论连锁的专题文章中特别强调了这点。
• Occasionally,problems with block inheritance or linkage are encountered.有时会遇到区段遗传或连锁问题。

2 testimony   

n.证词；见证，证明

参考例句：

• The testimony given by him is dubious.他所作的证据是可疑的。
• He was called in to bear testimony to what the police officer said.他被传入为警官所说的话作证。

3 oversight   

n.勘漏，失察，疏忽

参考例句：

• I consider this a gross oversight on your part.我把这件事看作是你的一大疏忽。
• Your essay was not marked through an oversight on my part.由于我的疏忽你的文章没有打分。

4 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

5 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

6 contagion   

n.(通过接触的疾病)传染；蔓延

参考例句：

• A contagion of fear swept through the crowd.一种恐惧感在人群中迅速蔓延开。
• The product contagion effect has numerous implications for marketing managers and retailers.产品传染效应对市场营销管理者和零售商都有很多的启示。

7 lessen   

vt.减少，减轻；缩小

参考例句：

• Regular exercise can help to lessen the pain.经常运动有助于减轻痛感。
• They've made great effort to lessen the noise of planes.他们尽力减小飞机的噪音。

8 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

9 lasting   

adj.永久的，永恒的；vbl.持续，维持

参考例句：

• The lasting war debased the value of the dollar.持久的战争使美元贬值。
• We hope for a lasting settlement of all these troubles.我们希望这些纠纷能获得永久的解决。

10 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

11 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

12 reiterated   

反复地说，重申( reiterate的过去式和过去分词 )

参考例句：

• "Well, I want to know about it,'she reiterated. “嗯，我一定要知道你的休假日期，"她重复说。 来自英汉文学 - 嘉莉妹妹
• Some twenty-two years later President Polk reiterated and elaborated upon these principles. 大约二十二年之后，波尔克总统重申这些原则并且刻意阐释一番。

13 constructive   

adj.建设的，建设性的

参考例句：

• We welcome constructive criticism.我们乐意接受有建设性的批评。
• He is beginning to deal with his anger in a constructive way.他开始用建设性的方法处理自己的怒气。