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
考研
AMERICA’S central bank sent a clear message this week. For the second consecutive meeting, the Federal Open Market Committee, th
AMERICA’S central bank sent a clear message this week. For the second consecutive meeting, the Federal Open Market Committee, th
admin
2009-04-26
59
问题
AMERICA’S central bank sent a clear message this week. For the second consecutive meeting, the Federal Open Market Committee, the central bank’s policy-making committee, left short-term interest rates unchanged at 1.75%. But it said that the risks facing the economy had shifted from economic weakness to a balance between weakness and excessive growth. This shift surprised no one. But it has convinced many people that interest rates are set to rise again—and soon.
Judging by prices in futures markets, investors are betting that short-term interest rates could start rising as early as May, and will be 1.25 percentage points higher by the end of the year. That may be excessive. Economists at Goldman Sachs, who long argued that the central bank would do nothing this year, now expect short-term rates to go up only 0.75% this year, starting in June. But virtually everyone reckons some Fed tightening is in the offing.
The reason? After an unprecedented 11 rate-cuts in 2001, short-term interest rates are abnormally low. As the signs of robust recovery multiply, analysts expect the Fed to take back some of the rate-cuts it used as an "insurance policy" after the September 11th terrorist attack. They think there will be a gradual move from the Fed’s current "accommodative" monetary stance to a more neutral policy. And a neutral policy, many argue, ultimately implies short-term interest rates of around 4%.
Logical enough. But higher rates could still be further off, particularly if the recovery proves less robust than many hope. Certainly, recent economic indicators have been extraordinarily strong, unemployment fell for the second consecutive month in February and industrial production rose in both January and February. The manufacturing sector is growing after 18 months of decline. The most optimistic Wall Streeters now expect GDP to have expanded by between 5% and 6% on an annual basis in the first quarter.
But one strong quarter does not imply a sustainable recovery. In the short term, the bounce-back is being driven by a dramatic restocking of inventories. But it can be sustained only if corporate investment recovers and consumer spending stays buoyant. With plenty of slack capacity around and many firms stuck with huge debts and lousy profits, it is hard to see where surging investment will come from. And, despite falling unemployment, America’s consumers could disappoint the bulls.
These uncertainties alone suggest the central bank will be cautious about raising interest rates. Indeed, given the huge pressure on corporate profits, the Federal Reserve might be happy to see consumer prices rise slightly. In short, while Wall Street frets about when and how much interest rates will go up. The answer may well be not soon and not much.
选项
A、interpret the message from the central bank.
B、justify the rise of short-term interest rates.
C、illustrate what is weakness and undue growth.
D、contrast different views on economic indices.
答案
A
解析
转载请注明原文地址:https://kaotiyun.com/show/hIa4777K
0
考研英语一
相关试题推荐
IthasbeenawretchedfewweeksforAmerica’scelebritybosses.AIG’sMauriceGreenberghasbeendramaticallyoustedfromthef
WetendtothinkofthedecadesimmediatelyfollowingWorldWarIIasatimeofprosperityandgrowth,withsoldiersreturningh
Readthefollowingtextandanswerquestionsbyfindinginformationfromtherightcolumnthatcorrespondstoeachofthemarked
HenricIbsen,authoroftheplay"ADoll’sHouse",inwhichapretty,helplesshousewifeabandonsherhusbandandchildrentose
Applicantsshouldnotethatallpositionsare______toAustraliancitizenshiprequirements.
Afull-timejobdoesn’thavetodestroyallhopeoffamilydinnersorafternoonplaytime.Womencanincreasetheirchancesofge
JudithVogtli,directorofanupstateNewYork-basedabstinence(thepracticeofrefrainingfromsex,alcohol,etc)organizationc
Insomeplaces,ithashelpedcurbcorruption,encouragedmoregirlstogotoschoolandenabledcitizenstomonitorelectionvi
MatthewBreuerhassharedthepasswordstohiscomputer,emailandsocialmediaaccountswitheverygirlfriendhe’severhad."I
Wecanlearnfromthefirstparagraphthat______.Thepanelagreedonallofthefollowingexceptthat______.
随机试题
阅读材料并回答问题:如何以更好的质量实现经济社会的发展,是我们面临的也是必须要解决好的重大问题。在未来的发展中,资源环境对经济发展已构成严重制约,城乡之间、区域之间、经济与社会之间发展不平衡的矛盾趋于突出,资源相对短期、生态环境脆弱、环境容量不足
mRNA剪接过程中被去除的部分叫做
某猪场2岁种公猪,精神沉郁,步态强拘,拱背,腰部触诊敏感,常做排尿姿势。尿检可见红细胞、白细胞、盐类结晶、肾上皮细胞,该病可能的诊断是()
A.桂枝茯苓丸B.香棱丸C.启宫丸D.开郁种玉汤E.开郁二陈汤
甲河是多国河流,乙河是国际河流。根据国际法相关规则,下列哪些选项是正确的?(2011—卷一—74,多)
根据《建筑工程施工质量验收统一标准》GB50300—2013,建筑工程质量验收的最小单元是()。
根据《中华人民共和国村民委员会组织法》,村务监督委员会成员的产生方式是()。
案例下面是某求助者的WAIS-RC测验结果:根据以上测验得分,可以判断该求助者()
Manythingsmakepeoplethinkartistsareweird.Buttheweirdestmaybethis:artists’onlyjobistoexploreemotions,andyet
Yearsaftertheeconomicrecessionwitnessed_________businessrecoverythroughoutthewholenation.
最新回复
(
0
)