首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Federal Reserve Board Chairman Alan Greenspan laid forth the intellectual basis for the likely continued aggressive easing in mo
Federal Reserve Board Chairman Alan Greenspan laid forth the intellectual basis for the likely continued aggressive easing in mo
admin
2013-01-29
88
问题
Federal Reserve Board Chairman Alan Greenspan laid forth the intellectual basis for the likely continued aggressive easing in monetary policy in the weeks ahead in his semi-annual monetary policy report to Congress.
The broader point in his prepared testimony is that the improved information and production controls evident in the new economy
induce companies to respond more quickly and in tandem to changes in their business. Mistakes are still made as is evidenced by the unwanted buildup of inventories at the end of last year, but any mistakes are more aggressively addressed than in the past, as is evidenced by manufacturers’ recent slashing of production. Moreover, the increasingly dramatic shifts in economic activity are particularly hard on confidence. Consumers and businesses literally freeze up due to the heightened uncertainty, and run from any perceived risks and curtail their spending and investment. If confidence deflates by enough, then a recession will ensue.
Confidence has also been under extraordinary pressure in recent months due to surging energy prices and weaker stock prices. Higher energy bills have acted much like a tax increase, save the checks are largely being written to foreign energy producers. The lower stock prices are having a magnified impact due to the dramatic increase in stock wealth since the mid-1990s.
The conduct of monetary policy must adjust to all of this, and thus respond more quickly and aggressively than in the past in an effort to shore up confidence. This explains the dramatic and unprecedented action (at least by a Greenspan-led Federal Reserve) to cut the federal funds rate target by 100 basis points in January: This also suggests that substantially more easing is on the way in the weeks ahead. Just when and by how much will depend on whether confidence continues to fall.
The chairman made a point to note that policymakers have significant latitude to ease policy aggressively since inflation remains low and tame. Despite surging energy prices, inflation and inflation expectations remain contained.
The Federal Reserve’s economic projections for this year provided as part of the testimony support this non-recessionary view. Real GDP is expected to grow by between 2% and 2. 5% between the fourth quarter of 2000 and the fourth quarter of this year. Since this is below the economy’s potential growth, the jobless rate will rise to approximately 4. 5% by year’s end. Inflation will moderate somewhat in response.
Recession risks are rising and as high as they have been since the last downturn almost a decade ago. The key buffer between a soft economy and a recessionary one is confidence, and today’s testimony by the Federal Reserve chairman clearly indicates that policymakers will be as aggressive as they need to be to ensure that confidence erodes no further. With just a bit of luck they will succeed.
All of the following may contribute to the deflation of confidence EXCEPT______
选项
A、Lower stock markets.
B、Less production controls.
C、Surging energy prices.
D、More risk perceptions.
答案
B
解析
题干问:“下面所有选项也许都导致了一种自信心的毁灭,除了……”。正确选项为B“更少的生产控制”。而选项A“更低的股票价格”,选项C“更高的能源价格”和选项D“看到更多的冒险”都导致了人们自信心的下降。
转载请注明原文地址:https://kaotiyun.com/show/U01O777K
0
考博英语
相关试题推荐
Don’tcallhimjustacollegeprofessor.Internetentrepreneur,TVpersonality,advisortopresidents,andfriendtotherichan
Thecomingofautomationis______tohaveimportantsocialconsequences.
ThoseareveryimportantpapersandI’djustassoon______here.
Green-spacefacilitiesarecontributingtoanimportantextenttothequalityoftheurbanenvironment.Fortunatelyitisnolon
Frenchareelegantpeople.Theyareartistsineverydaylife,havingaverygoodtasteineverything.Theydon’tlikeAmericant
Writeanessayofnolessthan150wordsaboutyourviewpointsto~opiniononthewritingclassforthePH.Dstudents.Writeyour
Auctionsarepublicsalesofgoods,conductedbyanofficiallyapprovedauctioneer.Heaskedthecrowdtogatherintheauction
Yearsago,agroupofbrilliantyoungmenattheUniversityofWisconsinseemedtohaveamazingcreativeliterarytalent.Theyw
Thesizzlingsteamsofsunlightwerejustbeautifullyglimmeringdownonthecrispgreenschoolyard.Suchawonderfuldaythatw
Thesizzlingstreamsofsunlightwerejustbeautifullyglimmeringdownonthecrispgreenschoolyard.Suchawonderfuldaythat
随机试题
无限长直螺线管单位长度的匝数为n,通过螺线管的电流强度随时间的变化关系为I=I0eαt(SI),式中I0、α为常量,且α>0。一个由弹性导线制作的单匝圆形线圈置于螺线管内(如图所示),线圈平面始终保持与磁场垂直且圆心一直位于螺线管轴线上。设圆形线圈面
病毒灭活后的血浆含有稳定和不稳定的凝血因子,但缺乏大量的何种因子
不需作TDM的是
甘草反
地高辛用于心力衰竭患者的原因
纳税人停业期限不得超过()年。
下列关于契税的表述,正确的是()。
工笔淡彩
Bigcrimesdeservetoughresponses.Inanycountrythetheftandpublicationof250,000secretgovernmentdocumentswoulddeserv
TheEndofAIDS?[A]OnJune5th1981America’sCentresforDiseaseControlandPreventionreportedtheoutbreakofanunusualf
最新回复
(
0
)