VOA标准英语2008年-US Central Bank Leaves Interest Rates Unchanged

After steadily¹ cutting interest rates for much of the past year, the U.S. central bank has decided² to keep them unchanged, while signaling concerns about inflation that could trigger interest rate hikes in the future. VOA's Michael Bowman reports from Washington, where Federal Reserve policy makers³ concluded a two-day meeting Wednesday.
　
United States Federal Reserve Building in Washington, DC (File)

The Federal Reserve typically raises interest rates during periods of brisk economic activity that tend to boost inflationary pressures, and usually cuts interest rates when the economy falters⁴ and inflationary risks are low.

But the U.S. economy remains⁵ weak and American consumer confidence continues to plunge⁶, while inflationary pressures, led by rising energy costs, have been growing.

Further interest rate cuts could heighten the risk of inflation, yet raising interest rates could send a weak economy into a full-blown recession.

If each option poses undesirable⁷ risks, perhaps the best course of action is to maintain the status quo. That appears to be the Fed's thinking, at least for now, as it chose to keep interest rates unchanged.

In a statement, the central bank said recent interest rate cuts should set the stage for a return to moderate economic growth, although it could not discount the possibility of a recession, saying that "downside risks" to growth remain. At the same time, the Fed said, in light of price increases for energy and other commodities, uncertainty⁸ about the inflation outlook remains high.

Given that uncertainty, many economists¹⁰ say the Federal Reserve will continue to face tough decisions in the months ahead.

"The Fed is facing probably one of the most difficult circumstances that is has faced in three decades," said Julia Coronado, a senior economist⁹ with the New York-based investment firm, Barclays Capital. "We are seeing some pretty pervasive¹¹ inflationary pressures. They [Fed policy makers] learned in the '70s that you cannot successfully accommodate an energy price shock with lower [interest] rates. That, ultimately, it does fan the flames of inflation."

In the 1970s, the United States faced similar circumstances of slow growth amid rising prices - what economists refer to as "stagflation." The U.S. economy returned to robust¹² growth with low inflation in the 1980s, but only after the Federal Reserve dramatically raised interest rates and America suffered a deep recession.

 

1 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。

2 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

3 makers   

n.制造者，制造商（maker的复数形式）

参考例句：

• The makers of the product assured us that there had been no sacrifice of quality. 这一产品的制造商向我们保证说他们没有牺牲质量。
• The makers are about to launch out a new product. 制造商们马上要生产一种新产品。 来自《简明英汉词典》

4 falters   

（嗓音）颤抖( falter的第三人称单数 )； 支吾其词； 蹒跚； 摇晃

参考例句：

• He never falters in his determination. 他的决心从不动摇。
• The plan never falters; the design never changes. It is all ordered. 大自然从不步履蹒跚，从不三心二意，一切都是有条不紊。

5 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

6 plunge   

v.跳入，(使)投入，(使)陷入；猛冲

参考例句：

• Test pool's water temperature before you plunge in.在你跳入之前你应该测试水温。
• That would plunge them in the broil of the two countries.那将会使他们陷入这两国的争斗之中。

7 undesirable   

adj.不受欢迎的，不良的，不合意的，讨厌的；n.不受欢迎的人，不良分子

参考例句：

• They are the undesirable elements among the employees.他们是雇员中的不良分子。
• Certain chemicals can induce undesirable changes in the nervous system.有些化学物质能在神经系统中引起不良变化。

8 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

9 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

10 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

11 pervasive   

adj.普遍的；遍布的，(到处)弥漫的；渗透性的

参考例句：

• It is the most pervasive compound on earth.它是地球上最普遍的化合物。
• The adverse health effects of car exhaust are pervasive and difficult to measure.汽车尾气对人类健康所构成的有害影响是普遍的，并且难以估算。

12 robust   

adj.强壮的，强健的，粗野的，需要体力的，浓的

参考例句：

• She is too tall and robust.她个子太高，身体太壮。
• China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。