首页
登录
职称英语
Federal Reserve Board Chairman Alan Greenspan laid forth the intellectual ba
Federal Reserve Board Chairman Alan Greenspan laid forth the intellectual ba
游客
2025-04-24
24
管理
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. [br] The best title for this passage may be______
选项
A、Greenspan’s Testimony.
B、A New Economy.
C、New Monetary Policy.
D、A Confidence Builder.
答案
C
解析
题干问:“这篇文章的最佳标题为?”纵观全文,作者主要讲述的是联邦储备银行的新金融政策,因此选项C“新金融政策”为正确选项。而选项A“Greenspan的证词”,选项B“新经济”和选项D“自信心的缔造因素”都不能成为文章的整体中心,而只是局部中心。
转载请注明原文地址:https://tihaiku.com/zcyy/4052062.html
相关试题推荐
FederalReserveBoardChairmanAlanGreenspanlaidforththeintellectualba
FederalReserveBoardChairmanAlanGreenspanlaidforththeintellectualba
Theintellectually______enterpriseofsciencedependsonfreecommunication.A、d
Thechairmanofthecompanysaidthatnewtechniqueshad______improvedtheirp
Greatemotionalandintellectualresourcesaredemandedinquarrels;stamina
Greatemotionalandintellectualresourcesaredemandedinquarrels;stamina
Thestudyoflawhasbeenrecognizedforcenturiesasabasicintellectuald
Thestudyoflawhasbeenrecognizedforcenturiesasabasicintellectuald
America’sFederalReservecutinterestratesbyanotherquarter-point,to3.
Thestudyoflawhasbeenrecognizedforcenturiesasabasicintellectuald
随机试题
Whenwasthelasttimeyouflashedafakesmileattheoffice?Forsome,it
UniversitiesBranchOutA)Asneverbeforeintheirl
管理层、治理层和注册会计师对财务报表的责任是不同的,以下的判断事项不恰当的是()
我们要建立社会主义市场经济体制,就必须( )。 A.弱化国家对经济的宏观调控
布鲁姆与加涅教学目标分类理论的相似之处是把教学目标分类的着眼点放在()A.学习过
香豆素类过量出血可选用A.维生素B12 B.鱼精蛋白 C.维生素C D.维
该公文标题的结构特征是:() A.发文机关名称+发文事由 B.发文事由+
某设备原价20000万元,预计净残值为2000元,折旧年限为5年,采用双倍余额递
当需要不能满足时,人们可以借助想象从心理上得到满足,这说明想象的() A.预
国内A商业银行为中国进出口银行代理了资金结算业务,对A银行来说,该项业务称为(
最新回复
(
0
)