VOA标准英语2013--美联储的政策导致股市创下新高

 

US Fed Policies Send Stocks to Record Highs 美联储的政策导致股市创下新高

U.S. stock prices reached new highs Wednesday after the U.S. Federal Reserve said it would stay the course on efforts to stimulate¹ the economy. And that rally could continue, despite the central bank's conclusion that the U.S. economic recovery still has a way to go before it becomes fully² sustainable. Many economists⁴ were expecting the Fed to start scaling back its bond purchases this month as the economy recovers from the worst recession in decades.

周三美国联邦储备委员会表示,将坚持到底刺激经济后美国股票价格达到新高。尽管中央银行认为美国经济复苏仍有很长的路要走,但是反弹可能会继续,。许多经济学家都预计随着经济的复苏从几十年来最严重的经济衰退美联储本月将开始缩减债券购买计划。

Top central bank officials concluded two days of meetings Wednesday by doing something completely unexpected - nothing.  

Federal Reserve Chairman Ben Bernanke summed up their findings - saying there would be no immediate⁵ change.

“As you already know from our statement, the committee decided⁶ today to keep the target range for the federal funds rate at zero to one-fourth percent and to make no change in either its asset purchase programs or its forward guidance regarding the federal funds rate target," said Bernanke.

The Federal Reserve has been buying $85 billion in bonds a month to stimulate the economy by keeping interest rates low.  

Financial markets reacted almost instantly - sending stock prices sharply higher.

Not surprising says economics professor Steven Kyle.  He spoke⁷ to VOA via Skype.

“Well, in the stock market, they’re happy because that means that long-term interest rates will stay low.  That’s a good thing for stocks, and they can keep the party going a while longer," said Kyle.

But the decision to maintain the stimulus⁸ package confirms that the U.S. economy is not as robust⁹ as many hoped.  Bernanke says the job market remains¹⁰ weak.

“Notably, at 7.3 percent, the unemployment rate remains well above acceptable levels.  Long-term unemployment and underemployment remain high," he said.

Economist³ Joseph Gagnon at the Peterson Institute had predicted the tapering¹² would not happen this month, partly because of intense market speculation¹³, and partly because of the tepid¹⁴ economy.

“Things are not looking as good as they were three months ago, the last time they did a forecast.  And part of that is the higher interest rates, which have risen because of this talk about tapering itself, is making the economy worse," said Gagnon.

Some say it’s not a question of when the Fed will start tapering but by how much.

That could be more difficult given expectations that Bernanke will step down as Fed chairman when his term ends in January - says the Concord¹⁵ Coalition's Robert Bixby.

“It’s going to be a difficult job because you’re essentially¹⁶ unwinding a policy that somebody put in place and that’s a difficult challenge," said Bixby.

Market experts say a more immediate problem may not be the size of the taper¹¹ but whether Congress is able to agree on government spending levels or the size of the U.S. debt when budget negotiations¹⁷ begin later this month.Top central bank officials concluded two days of meetings Wednesday by doing something completely unexpected - nothing.  

Federal Reserve Chairman Ben Bernanke summed up their findings - saying there would be no immediate change.

“As you already know from our statement, the committee decided today to keep the target range for the federal funds rate at zero to one-fourth percent and to make no change in either its asset purchase programs or its forward guidance regarding the federal funds rate target," said Bernanke.

The Federal Reserve has been buying $85 billion in bonds a month to stimulate the economy by keeping interest rates low.  

Financial markets reacted almost instantly - sending stock prices sharply higher.

Not surprising says economics professor Steven Kyle.  He spoke to VOA via Skype.

“Well, in the stock market, they’re happy because that means that long-term interest rates will stay low.  That’s a good thing for stocks, and they can keep the party going a while longer," said Kyle.

But the decision to maintain the stimulus package confirms that the U.S. economy is not as robust as many hoped.  Bernanke says the job market remains weak.

“Notably, at 7.3 percent, the unemployment rate remains well above acceptable levels.  Long-term unemployment and underemployment remain high," he said.

Economist Joseph Gagnon at the Peterson Institute had predicted the tapering would not happen this month, partly because of intense market speculation, and partly because of the tepid economy.

“Things are not looking as good as they were three months ago, the last time they did a forecast.  And part of that is the higher interest rates, which have risen because of this talk about tapering itself, is making the economy worse," said Gagnon.

Some say it’s not a question of when the Fed will start tapering but by how much.

That could be more difficult given expectations that Bernanke will step down as Fed chairman when his term ends in January - says the Concord Coalition's Robert Bixby.

“It’s going to be a difficult job because you’re essentially unwinding a policy that somebody put in place and that’s a difficult challenge," said Bixby.

Market experts say a more immediate problem may not be the size of the taper but whether Congress is able to agree on government spending levels or the size of the U.S. debt when budget negotiations begin later this month.

1 stimulate   

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 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

3 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

4 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

5 immediate   

adj.立即的；直接的，最接近的；紧靠的

参考例句：

• His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。
• We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。

6 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

7 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。

8 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

9 robust   

adj.强壮的，强健的，粗野的，需要体力的，浓的

参考例句：

• She is too tall and robust.她个子太高，身体太壮。
• China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。

10 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。

11 taper   

n.小蜡烛，尖细，渐弱；adj.尖细的；v.逐渐变小

参考例句：

• You'd better taper off the amount of time given to rest.你最好逐渐地减少休息时间。
• Pulmonary arteries taper towards periphery.肺动脉向周围逐渐变细。

12 tapering   

adj.尖端细的

参考例句：

• Interest in the scandal seems to be tapering off. 人们对那件丑闻的兴趣似乎越来越小了。
• Nonproductive expenditures keep tapering down. 非生产性开支一直在下降。

13 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

14 tepid   

adj.微温的，温热的，不太热心的

参考例句：

• She bent her mouth to the tap and drank the tepid water.她把嘴伸到水龙头底下去喝那微温的水。
• Her feet firmly planted on the tepid rough brick of the floor.她一双脚稳固地立在微温而粗糙的砖地上。

15 concord   

n.和谐；协调

参考例句：

• These states had lived in concord for centuries.这些国家几个世纪以来一直和睦相处。
• His speech did nothing for racial concord.他的讲话对种族和谐没有作用。

16 essentially   

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。

17 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。