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

搜索关注在线英语听力室公众号：tingroom，领取免费英语资料大礼包。

　　"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.

分享到：