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
34
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] 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://tihaiku.com/zcyy/4052065.html
相关试题推荐
Notuntilthe1980’s______inBeijingstarttofindwaystopreservehistoricb
FederalReserveBoardChairmanAlanGreenspanlaidforththeintellectualba
Greatemotionalandintellectualresourcesaredemandedinquarrels;stamina
Greatemotionalandintellectualresourcesaredemandedinquarrels;stamina
Greatemotionalandintellectualresourcesaredemandedinquarrels;stamina
Greatemotionalandintellectualresourcesaredemandedinquarrels;stamina
Greatemotionalandintellectualresourcesaredemandedinquarrels;stamina
Thestudyoflawhasbeenrecognizedforcenturiesasabasicintellectuald
Thestudyoflawhasbeenrecognizedforcenturiesasabasicintellectuald
Thestudyoflawhasbeenrecognizedforcenturiesasabasicintellectuald
随机试题
[originaltext]Manywomenareattractedbytheexcitementofbeingaflightatte
某化工厂在生产过程中由于导线电流过载而发生金属气化进而引起的爆炸属于()。A.气
下列哪种情况通常不出现蛋白尿A.精神紧张 B.高血压 C.慢性胃炎 D.心
体育比赛中,运动员在场上向对方实施谩骂、出拳、蹬踹等行为动作,这些行为属于(
根据《国家发展改革委办公厅关于简化企业债券审报程序加强风险防范和改革监管方式的意
肝和肾的关系主要体现在A.精血的相互滋生、约制 B.水液的代谢和呼吸运动 C
在无芽孢厌氧菌感染中,临床标本检出阳性率最高的是A.脆弱类杆菌B.双歧杆菌C.丙
145、电力系统污区分布图的绘制、修订应以现场污秽度为主要依据之一,并充分考虑污
容易引起骨折不连接的移位是A.成角移位 B.分离移位 C.侧方移位 D.旋
男性,23岁。5天前受凉后出现咳嗽、低热及右胸刺痛,后感活动后气促。查体:右下肺
最新回复
(
0
)