您現(xiàn)在的位置: Language Tips> Audio & Video> Normal Speed News  
   
 





 
US central bank chief gives gloomy economic assessment
[ 2008-10-08 09:26 ]

 

Download

The head of the U.S. central bank says the outlook for America's economic performance has worsened, and that the Federal Reserve may have to reevaluate current interest rates. VOA's Michael Bowman reports from Washington, Fed Chairman Ben Bernanke spoke amid continued swings in world markets, one day after massive sell-offs that saw several exchanges hit multi-year lows.

Chairman Bernanke says severe upheaval in America's financial sector has further strained an already weak U.S. economy. Addressing a business association in Washington, the Fed chief gave a gloomy assessment of economic prospects.

"The housing market continues to be a primary source of weakness in the real economy as well as the financial markets," he said. "However the slowdown in economic activity has spread outside the housing sector. Private payrolls have continued to contract, and the declines in employment, together with earlier increases in food and energy prices, have eroded the purchasing power of households. Overall, the outlook for economic growth has worsened."

Bernanke did not say the United States has entered a recession or predict that a recession is looming. Rather he said that inflation worries have moderated somewhat and that "the downside risk to growth has increased."

"In light of these developments, the Federal Reserve will need to consider whether the current stance on policy remains appropriate," he said.

The "current stance on policy" is widely viewed by economists and Fed-watchers as current U.S. interest rates - an indication that the Fed will at least consider further cuts to stimulate economic growth and promote lending.

Earlier in the day, the Federal Reserve unveiled an aggressive plan to make it easier for American companies to finance short-term needs like payroll obligations and purchasing supplies.

The initiative follows another major government effort to end a credit crunch that could further stifle economic growth. Last week, President Bush signed into law a massive financial rescue package that empowers the federal government to buy bad debt from struggling U.S. financial institutions.

Speaking outside Washington, Mr. Bush urged patience when it comes to addressing America's financial ills.

"Thawing the freeze in the financial system is not going to happen overnight," he said. "It will be a process that unfolds over several stages, and obviously the first stage began last Friday when I signed the rescue package into law. And so the Treasury Department is moving aggressively to implement the new authorities."

The president said the United States will coordinate its efforts to contain the financial crisis with those of other major industrialized nations, noting an upcoming meeting of G-7 finance ministers later this week in Washington.

Meanwhile, world markets were mixed. One day after sinking to its lowest level in four years, Wall Street's Dow Jones Industrial Average opened higher before retreating to triple-digit losses in afternoon trading. Major European markets were mixed, with London and Paris recording slight gains while shares in Frankfort closed moderately lower.

Earlier, Tokyo's market finished with a three-percent loss.

(Source: VOA 英語點津姍姍編輯)

 
英語點津版權說明:凡注明來源為“英語點津:XXX(署名)”的原創(chuàng)作品,除與中國日報網簽署英語點津內容授權協(xié)議的網站外,其他任何網站或單位未經允許不得非法盜鏈、轉載和使用,違者必究。如需使用,請與010-84883631聯(lián)系;凡本網注明“來源:XXX(非英語點津)”的作品,均轉載自其它媒體,目的在于傳播更多信息,其他媒體如需轉載,請與稿件來源方聯(lián)系,如產生任何問題與本網無關;本網所發(fā)布的歌曲、電影片段,版權歸原作者所有,僅供學習與研究,如果侵權,請?zhí)峁┌鏅嘧C明,以便盡快刪除。
相關文章 Related Story
 
 
 
本頻道最新推薦
 
Walking in the US first lady's shoes
“準確無誤”如何表達
英國新晉超女蘇珊大媽改頭換面
豬流感 swine flu
你有l(wèi)ottery mentality嗎
翻吧推薦
 
論壇熱貼
 
別亂扔垃圾。怎么譯這個亂字呀?
橘子,橙子用英文怎么區(qū)分?
看Gossip Girl學英語
端午節(jié)怎么翻譯?
母親,您在天堂還好嗎?

 

精品无码久久久久久尤物,99视频这有这里有精品,国产UU精品无码视频,女同精品一区二区网站