2007年VOA标准英语-US Federal Reserve Chief Paints Mixed Economic

By Michael Bowman
Washington
28 March 2007

The United States' top monetary² official says the country's economy continues to grow and create jobs, but is hindered by several factors, including negative developments in the housing industry. VOA's Michael Bowman reports from Washington, where Federal Reserve Chairman Ben Bernanke spoke³ at a hearing of Congress' Joint⁴ Economic Committee.

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Ben Bernanke testifies on Capitol Hill, 28 Mar 2007

If legislators were looking for a clear-cut, decisive prediction on the future of the U.S. economy, they did not get it from Ben Bernanke. The U.S. central bank chief noted⁵ several positive trends that suggest further economic expansion, including rising exports and continued job creation.

"The continuing increases in employment, together with some pick-up in real wages, have helped sustain consumer spending, which increased at a brisk pace in the second half of last year, and has continued to be well maintained so far this year," he said.

"Growth in consumer spending should continue to support the economic expansion in coming quarters," he continued.

But Bernanke was quick to add that all is not well. In particular, he pointed⁶ to a dramatic slowdown in America's once-booming housing market, regarded as a primary engine of U.S. economic growth in recent years.

"To the downside, the correction in the housing market could turn out to be more severe than we currently expect, perhaps exacerbated⁷ by problems in the sub-prime sector⁸," the Federal Reserve chairman said.

"Moreover, we could see yet greater spillover from the weakness in housing to employment and consumer spending than has occurred thus far," he added.

The "sub-prime sector" refers to mortgages held by roughly 10 percent of U.S. homeowners that often feature higher interest rates and sometimes allow a homeowner to pay only the interest on their loan, thereby⁹ accruing¹⁰ no equity¹¹. Such plans are generally offered to people with poor credit or low income levels.

Foreclosures in the sub-prime sector have skyrocketed in recent months, leading U.S. officials and legislators to question the lending practices of some financial institutions.

The Federal Reserve Board decides when and whether to raise or lower interest rates, based on its reading of current economic conditions and its projections¹² of future ones. Many look to the Federal Reserve chairman as America's top economic prognosticator.

Earlier this month, Bernanke's predecessor¹³, Alan Greenspan, said there is a one in three chance that the United States will slide into a recession by year's end.

Speaking on Capitol Hill, Bernanke said there is insufficient¹⁴ evidence to conclude that America's five-year economic expansion will "die of old age."

1 mar   

vt.破坏，毁坏，弄糟

参考例句：

• It was not the custom for elderly people to mar the picnics with their presence.大人们照例不参加这样的野餐以免扫兴。
• Such a marriage might mar your career.这样的婚姻说不定会毁了你的一生。

2 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。

3 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

4 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

5 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。

6 pointed   

adj.尖的，直截了当的

参考例句：

• He gave me a very sharp pointed pencil.他给我一支削得非常尖的铅笔。
• She wished to show Mrs.John Dashwood by this pointed invitation to her brother.她想通过对达茨伍德夫人提出直截了当的邀请向她的哥哥表示出来。

7 exacerbated   

v.使恶化，使加重( exacerbate的过去式和过去分词 )

参考例句：

• The symptoms may be exacerbated by certain drugs. 这些症状可能会因为某些药物而加重。
• The drugs they gave her only exacerbated the pain. 他们给她吃的药只是加重了她的痛楚。 来自《简明英汉词典》

8 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

9 thereby   

adv.因此，从而

参考例句：

• I have never been to that city,,ereby I don't know much about it.我从未去过那座城市，因此对它不怎么熟悉。
• He became a British citizen,thereby gaining the right to vote.他成了英国公民，因而得到了投票权。

10 accruing   

v.增加( accrue的现在分词 )；（通过自然增长）产生；获得；（使钱款、债务）积累

参考例句：

• economic benefits accruing to the country from tourism 旅游业为该国带来的经济效益
• The accruing on a security since the previous coupon date. 指证券自上次付息日以来所累积的利息。 来自互联网

11 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

12 projections   

预测( projection的名词复数 )； 投影； 投掷； 突起物

参考例句：

• Their sales projections are a total thumbsuck. 他们的销售量预测纯属估计。
• The council has revised its projections of funding requirements upwards. 地方议会调高了对资金需求的预测。

13 predecessor   

n.前辈，前任

参考例句：

• It will share the fate of its predecessor.它将遭受与前者同样的命运。
• The new ambassador is more mature than his predecessor.新大使比他的前任更成熟一些。

14 insufficient   

adj.(for，of)不足的，不够的

参考例句：

• There was insufficient evidence to convict him.没有足够证据给他定罪。
• In their day scientific knowledge was insufficient to settle the matter.在他们的时代，科学知识还不能足以解决这些问题。