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(单词翻译:双击或拖选)
Less than an hour after US president George W. Bush with Treasury1 Secretary Henry Paulson by his side, said the US economy would recover from the current financial crisis, President-elect Barack Obama presented the economic team that will help him navigate2 the crisis when he inherits the faltering3 economy in January.
Right now our economy is trapped in a vicious cycle. The turmoil4 on Wall Street means a new round of belt-tightening for families and businesses on Main Street, and as folks produce less and consume less, that just deepens the problems in our financial markets.
Obama announced that Lawrence Summers, formal Treasury Secretary under President Clinton, will be director of the National Economic Council and Timothy Geithner, the president of the New York Federal Reserve Bank will become the next Treasury Secretary. The Brookings Institution’s Darrell West:
Obama recognizes that we face an incredible financial emergency and so, he’s surrounding himself with people who have experience, including some people who’ve worked on the financial rescue package, Tim Geithner, as well as others who have been very involved in past administrations.
Wall Street appeared to like Obama's choices as the Dow recorded its second straight day of big gains, adding to Friday's rally when news of the team was leaked. Analysts5 say the markets also cheered Obama's plan for another large economic stimulus6 plan that would be implemented7 almost immediately after he takes office in January.
Hugh Johnson is the chief investment officer of Johnson Illington Advisors9.
It's a lot of money, but nevertheless I think the Wall Street is gonna accept it, especially if the payoff is a recovery or the beginnings of a recovery in the economy.
And underscoring the depth of the crisis, Obama warned that despite all of the immediate8 efforts by his economic team, the US economy is likely to get worse before it gets better.
Jon Decker, Reuters.
1 treasury | |
n.宝库;国库,金库;文库 | |
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2 navigate | |
v.航行,飞行;导航,领航 | |
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3 faltering | |
犹豫的,支吾的,蹒跚的 | |
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4 turmoil | |
n.骚乱,混乱,动乱 | |
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5 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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6 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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7 implemented | |
v.实现( implement的过去式和过去分词 );执行;贯彻;使生效 | |
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8 immediate | |
adj.立即的;直接的,最接近的;紧靠的 | |
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9 advisors | |
n.顾问,劝告者( advisor的名词复数 );(指导大学新生学科问题等的)指导教授 | |
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