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
86
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
Researcherswhorefusetosharedatawithothersmay【51】otherstowithholdresultsfromthem,【52】astudybyhealth-policyanalys
Researcherswhorefusetosharedatawithothersmay【51】otherstowithholdresultsfromthem,【52】astudybyhealth-policyanalys
71.ItwasnotuntilmodernscholarshipuncoveredthesecretofreadingMiddleEnglishthatwecouldunderstandthatChaucer,far
Thereisaquestion,however,thatmustbeansweredbeforethissynthesisisattempted,namely,whicharethesocialtendencies
ClimaticconditionsaredelicatelyadjustedtothecompositionoftheEarth’satmosphere.Iftherewereachangeintheatmosphe
Frenchareelegantpeople.Theyareartistsineverydaylife,havingaverygoodtasteineverything.Theydon’tlikeAmericant
Writeanessayofnolessthan150wordsaboutyourviewpointsto~opiniononthewritingclassforthePH.Dstudents.Writeyour
Inmostpeople’smind,growthisassociatedwithprosperity.WejudgehowwelltheeconomyisdoingbythesizeoftheGrossNat
RogerRosenblatt’sbookBlackFiction,inattemptingtoapplyliteraryratherthansociopoliticalcriteriatoitssubject,succe
However,manybusinessmenareactiveDemocratsforreasons______economicones--suchasreligion,national,racial,orgeograph
随机试题
下列关于内部提升的特点表述不正确的是()
关于心脏电生理检查中常用术语的表述,不正确的是
CT对比剂注射方法中,比较适用于头颅CT扫描的注射方法是
给予多根多处肋骨骨折患者胸壁包扎固定的最主要的目的是
患者,女,43岁。自诉下唇出现糜烂,出血结痂,周围伴有放射性条纹。镜下:上皮过度角化,局部出现角质栓塞,棘层变薄,基底细胞液化变性,血管周围见纤维蛋白沉积。病理诊断为
在人际沟通中,信息背景是
根据下列资料,回答下列小题。金融:2010年年末北京市金融机构(含外资)本外币存款余额37700.3亿元,比年初增加3893.6亿元,增加额比上年减少911亿元,贷款余额19861.5亿元,比年初增加2408.1亿元,按可比口径计算,增加额比上
主要凭借评价者的洞察、内省或移情对评价对象做出价值判断的评价方法是()
(2017·陕西)小凡语文测试成绩不理想,他向同学们抱怨老师评分不公正以及题目出得太偏了。事实上,老师评分是客观公正的,题目也未超出教学大纲范围。运用归因理论分析,以下说法正确的是()①小凡的归因能在一定程度上减轻自己的内疚感②
Asimpleideasupportsscience:"trust,butverify".Resultsshouldalwaysbe【C1】______tochallengefromexperiment.Thatsimple
最新回复
(
0
)