双语时事：美联储副主席对全球增长表示悲观

2014-08-20 15:23:56来源：可可英语

　　The housing sector also continued to weigh on the recovery, said Mr Fischer, who echoed theconcerns of the Fed’s chairwoman, Janet Yellen. Unlike the vigorous rebound in housing activitythat followed previous recessions, tighter credit conditions had led to faltering homeconstruction, he added.

　　费希尔表示，房地产业也在继续为复苏带来压力——这番言论再现了此前美联储主席詹尼特•耶伦(JanetYellen)的担忧。他补充说，与此前几次经济衰退后，楼市业务出现强劲反弹不同，较为紧缩的信贷状况令眼下的楼盘开工量欲振乏力。

　　Outside the US, the recoveries of advanced economies had been “well below average”, whileperformance in emerging markets, especially in Asia, is sharply down. The challenge forpolicy makers was separating the “cyclical from the structural, the temporary from thepermanent,” Mr Fischer said.

　　而在美国之外，发达经济体的复苏一直“大大低于平均水平”。与此同时，新兴市场的表现也大幅下滑——尤其是亚洲各国。费希尔表示，决策者面临的挑战是要将“周期性危机与结构性危机、临时性危机与永久性危机”区别开来。

　　“The difficulty in disentangling demand and supply factors makes the job of the monetarypolicy maker especially hard since it complicates the assessment of the amount of slack, orunderutilised productive capacity, in the economy,” he added.

　　他补充说：“需求与供给因素很难分清楚，从而使货币政策决策者的工作尤为困难，因为这会增大评估美国产能未充分释放程度的复杂性。”

　　Mr Fischer said he believed the Fed’s quantitative easing policy had been largely successful butmonetary policy would become more complicated as the central bank considers its futuremoves, which will affect the Fed’s balance sheet.

　　费希尔表示，他相信美联储的量化宽松政策取得了很大成功。然而当美联储开始考虑那些会影响其资产负债表的未来举措时，货币政策会变得更加复杂。

　　He said raising interest rates for excess reserves should “play a central role” in normalisingshort-term interest rates, while an overnight reverse repo facility could be useful in setting afloor for money market rates.

　　他表示，提升超额准备金利率应该在短期利率正常化过程中“起到核心作用”，而隔夜逆回购机制则有可能用来为货币市场利率设置下限。

　　“With these and other possible tools, we will be able to raise rates and maintain them near theirtargeted level at the appropriate time,” Mr Fischer said.

　　费希尔表示：“利用以上工具及其他可能工具，我们将有能力提升利率，并在合适的时间内将它们维持在目标利率附近。”

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