20120516 Follow Me 370 Fed Cuts U.S. Growth Forecast for 2013 and 2014

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Fed Cuts U.S. Growth Forecast for 2013 and 2014


WASHINGTON — The Federal Reserve chairman, Ben S. Bernanke, on Wednesday dismissed proposals to escalate the Fed’s economic stimulus campaign as “reckless,” arguing that the costs would be high and the benefits uncertain. The committee again demurred, however, from expanding those efforts, despite its prediction that millions of Americans would not find jobs for years to come.

The Fed also released a set of economic forecasts by 17 senior officials, only some of whom vote on monetary policy, showing that their expectations for domestic economic growth for this year have increased modestly since January. These documents showed that a majority of the officials who vote on policy now foresaw the Fed raising interest rates by the end of 2014.

Taken together, the documents suggested that Mr. Bernanke, who effectively has control over monetary policy, may be facing increased pressure from Fed officials concerned that the central bank has promised too much, even as he confronts mounting external criticism from those who say he is not doing enough.

The central bank has held short-term interest rates near zero since late 2008, and it has sought to further reduce long-term rates through the purchase of Treasury securities and mortgage bonds. Nine of the 10 members of the committee supported the public declaration that the Fed planned to continue these policies at least through late 2014. Jeffrey M. Lacker, president of the Federal Reserve Bank of Richmond, dissented, saying rates would need to rise sooner.

At a news conference Wednesday afternoon, Mr. Bernanke offered his most complete public explanation to date for the calibration of the Fed’s policies. Mr. Bernanke said that he was concerned about the high level of unemployment but that the Fed’s ability to encourage job creation was constrained by its responsibility to keep inflation low and stable.

Lowering the cost of borrowing to spur job creation tends to increase inflation. The current pace is already close to the 2 percent level the Fed considers ideal for long-term economic growth. Mr. Bernanke said it would be irresponsible for the Fed to pursue a temporary increase in the rate of inflation because it would surrender the credibility of its longstanding commitment to keep inflation around 2 percent. Moreover, he said, the impact on job growth would be “quite tentative and perhaps doubtful.”

The Fed also could expand its purchases of Treasury bonds and mortgage backed securities, which it views as a way to reduce borrowing costs without the same risk of increased inflation. Mr. Bernanke said this remained under discussion, but he added that he regarded the current level of Fed policy as an appropriate response to existing and projected economic conditions.

Read more: http://www.nytimes.com/2012/04/26/business/fed-to-stick-with-existing-measures.html?pagewanted=1&_r=1&ref=business

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关键词：Forecast forecas follow Growth Cuts 2014

占个沙发

Fed Cuts U.S. Growth Forecast for 2013 and 2014
美联储下调2013年和2014年经济增长预期
WASHINGTON — The Federal Reserve chairman, Ben S. Bernanke, on Wednesday dismissed proposals to escalate the Fed’s economic stimulus campaign as “reckless,” arguing that the costs would be high and the benefits uncertain. The committee again demurred, however, from expanding those efforts, despite its prediction that millions of Americans would not find jobs for years to come.
华盛顿-美联储主席博南克周五反驳了对于美联储采取经济刺激的计划，他指出代价高，效果如何无法确定。然而，委员会再次提出要尽一步努力，尽管其预测数以百万计的美国人不会在几年来找到工作。

The Fed also released a set of economic forecasts by 17 senior officials, only some of whom vote on monetary policy, showing that their expectations for domestic economic growth for this year have increased modestly since January. These documents showed that a majority of the officials who vote on policy now foresaw the Fed raising interest rates by the end of 2014.
美联储的17名高级官员还发布了一套经济预测，他们中只有一部分人投票支持货币政策，这显示美国经济自今年一月以来国内经济增长温和上升。这些文件表明，现在大多数官员们投票显示他们预计到2014年底，美联储会提高利率。

Taken together, the documents suggested that Mr. Bernanke, who effectively has control over monetary policy, may be facing increased pressure from Fed officials concerned that the central bank has promised too much, even as he confronts mounting external criticism from those who say he is not doing enough.
该文件指出博南克有效地控制货币政策，可能会面临来自美联储官员的越来越大的压力，因为央行已承诺太多而受到关注，即使他面对的那些外界批评来自于声称自己做的不够的人。

The central bank has held short-term interest rates near zero since late 2008, and it has sought to further reduce long-term rates through the purchase of Treasury securities and mortgage bonds.Nine of the 10 members of the committee supported the public declaration that the Fed planned to continue these policies at least through late 2014. Jeffrey M. Lacker, president of the Federal Reserve Bank of Richmond, dissented, saying rates would need to rise sooner.
央行自2008年底以来已维持了了接近于零的短期利率，它一直寻求通过购买国库券和抵押债券来进一步降低长期利率。该委员会的10名成员中有9名支持美联储计划，这些政策至少持续到2014年底。里士满联邦储备银行总裁杰弗里·拉克尔提出异议，他说需要尽快提高利率。


At a news conference Wednesday afternoon, Mr. Bernanke offered his most complete public explanation to date for the calibration of the Fed’s policies. Mr. Bernanke said that he was concerned about the high level of unemployment but that the Fed’s ability to encourage job creation was constrained by its responsibility to keep inflation low and stable.
在上周三下午的新闻发布会上，伯南克先生提供了迄今为止他对美联储的政策标准最完整的公开解释。博南克说，他很关切高失业率，但他相信美联储刺激就业的能力受限于其保持较低和稳定通胀水平的职责。
Lowering the cost of borrowing to spur job creation tends to increase inflation. The current pace is already close to the 2 percent level the Fed considers ideal for long-term economic growth. Mr. Bernanke said it would be irresponsible for the Fed to pursue a temporary increase in the rate of inflation because it would surrender the credibility of its longstanding commitment to keep inflation around 2 percent. Moreover, he said, the impact on job growth would be “quite tentative and perhaps doubtful.”
通过刺激创造就业机会降低成本往往会增大通货膨胀的风险。目前物价增幅已接近美联储认为理想的长期经济增长的2％的水平。但博南克称美联储继续在短时间内使得物价上涨是很不负责任的,因为它为了保持2％左右的物价增长而放弃其长期承诺的可信性.此外，他说，对就业增长的影响将是“非常表面的，也许也是值得怀疑的。"

三楼算探花吗

最后一段第一个单词是"The"

this is cool

英语学的不好

ding

Months ago, the US seemed to send some good news signals, but now again bad news signals come up, although the contents of the bad news haven't changed a lot.

WASHINGTON — The Federal Reserve chairman, Ben S. Bernanke, on Wednesday dismissed proposals to escalate the Fed’s economic stimulus campaign as “reckless,” arguing that the costs would be high and the benefits uncertain. The committee again demurred, however, from expanding those efforts, despite its prediction that millions of Americans would not find jobs for years to come.
华盛顿报道：美联储主席伯南克在周三取消了不切实际的美联储经济刺激计划，争辩道此项计划在成本居高的同时收益面临不确定性。委员会再次反对，然而，通过多方努力，无视衰退的预期，在近几年仍然将会有上百美国公民找不到工作。

The Fed also released a set of economic forecasts by 17 senior officials, only some of whom vote on monetary policy, showing that their expectations for domestic economic growth for this year have increased modestly since January. These documents showed that a majority of the officials who vote on policy now foresaw the Fed raising interest rates by the end of 2014.
美联储同时也发不了一项17名资深官员制定的经济预期报告，只有同意货币扩张政策的官员表示今年国内经济增长预期自一月份以来稳步增长。这些文件显示出大部分同意此项的政策官员预测美联储将在2014年底提高基准利率。

Taken together, the documents suggested that Mr. Bernanke, who effectively has control over monetary policy, may be facing increased pressure from Fed officials concerned that the central bank has promised too much, even as he confronts mounting external criticism from those who say he is not doing enough.
综观之，这份文件指出有效控制货币政策的伯南克不得不面对来自于美联储官员的压力，他们担忧中央银行在面对与日俱增的外部风险上言过其实。