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voa标准英语2008-US Central Bank Cuts Short-term Interest Rates t

时间：2009-01-04 00:34:37

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Saying the economy is continuing to weaken, the U.S. central bank Tuesday cut short-term interest rates to nearly zero.
　
Officers of the U.S. Federal Reserve stand watch in front of the Fed building in Washington, D.C., 29 Oct 2008

The Federal Reserve is taking short-term rates to their lowest level since the central bank was founded in 1913. It is cutting rates by three quarters of one percent to 0.25 percent.

Following its two-day meeting, the 12 member policy making committee said the central bank will use all available tools to stimulate1 economic activity and combat the financial crisis. It was tenth cut in short-term rates in the past 12 months.

Bill Poole was until earlier this year a Federal Reserve governor. "The Fed is sending a message that it will print money to an unlimited2 extent until it starts to see the economy expanding," he said.

In its statement, the Fed said that the economic outlook has weakened further since the committee's last meeting in late October. The U.S. economy has been in recession for one year. The gross domestic product expanded by a meager3 0.5 percent annual rate in the three months ending in September.

And some analysts4 expect negative growth at a six percent annual rate in the current three-month quarter. The economy has lost nearly two million jobs in the past year and the recession is already the longest in 25 years. Some analysts worry that the downturn will be worst in the post-World War II period.

The global outlook is not much better as Japan and parts of Western Europe have entered recession. And growth in China-the fastest growing emerging economy is decelerating from the rapid 12 percent rate of earlier this year.

Analysts say the central bank's challenge is greatly compounded by the 15-month old credit squeeze that has essentially5 frozen some sectors6 of the credit markets. Thus, no matter how low interest rates are, creditors7 are reluctant to lend, while businesses and consumers are reluctant to borrow.

The stock market responded favorably to the news of the larger than expected rate cut. A rally that had seen the Dow industrials up 100 points quickly changed to a 200 point advance.


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1 stimulate wuSwL     
vt.刺激，使兴奋；激励，使…振奋
参考例句：
  • Your encouragement will stimulate me to further efforts.你的鼓励会激发我进一步努力。
  • Success will stimulate the people for fresh efforts.成功能鼓舞人们去作新的努力。
2 unlimited MKbzB     
adj.无限的，不受控制的，无条件的
参考例句：
  • They flew over the unlimited reaches of the Arctic.他们飞过了茫茫无边的北极上空。
  • There is no safety in unlimited technological hubris.在技术方面自以为是会很危险。
3 meager zB5xZ     
adj.缺乏的，不足的，瘦的
参考例句：
  • He could not support his family on his meager salary.他靠微薄的工资无法养家。
  • The two men and the woman grouped about the fire and began their meager meal.两个男人同一个女人围着火，开始吃起少得可怜的午饭。
4 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
5 essentially nntxw     
adv.本质上，实质上，基本上
参考例句：
  • Really great men are essentially modest.真正的伟人大都很谦虚。
  • She is an essentially selfish person.她本质上是个自私自利的人。
6 sectors 218ffb34fa5fb6bc1691e90cd45ad627     
n.部门( sector的名词复数 )；领域；防御地区；扇形
参考例句：
  • Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
  • Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》
7 creditors 6cb54c34971e9a505f7a0572f600684b     
n.债权人，债主( creditor的名词复数 )
参考例句：
  • They agreed to repay their creditors over a period of three years. 他们同意3年内向债主还清欠款。 来自《简明英汉词典》
  • Creditors could obtain a writ for the arrest of their debtors. 债权人可以获得逮捕债务人的令状。 来自《简明英汉词典》

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