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美联储十次加息后或暂停加息(上)
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周三，美联储官员加息25个基点，这是美联储采取积极措施抑制快速上升的通胀率以来，第10次连续加息。
双语精读
Fed Makes 10th Rate Increase and Opens Door to Pause
美联储第10次加息，并开启了暂停加息的大门
Federal Reserve officials raised interest rates by a quarter-point on Wednesday, the 10th straight increase in an aggressive campaign to tame rapid inflation.
周三，美联储官员加息25个基点，这是美联储采取积极措施抑制快速上升的通胀率以来，第10次连续加息。
But they also opened the door to pausing rate increases as their policies combine with bank turmoil to weigh down the economy.
但当加息政策与银行动荡相结合而拖累了经济时，美联储官员也为暂停加息打开了大门。
Central bankers lifted rates to a range of 5 to 5.25 percent, a level they had not reached since the summer of 2007. The move capped the fastest series of rate increases since the 1980s.
央行官员将利率区间上调至5%至5.25%，这是自2007年夏天以来从未达到的水平。这一举措为1980年代以来速度最快的一系列加息动作画上了句号。
But in their statement announcing the decision, policymakers also tempered language around future rate increases, saying that additional moves "may" be appropriate.
但在宣布这一决定的声明中，政策制定者对于未来加息也在措辞上留下了余地，称采取额外措施"可能"是合适的。
Jerome H. Powell, the Fed chair, underscored in a news conference following the release that any additional changes would hinge on incoming economic data.
美联储主席杰罗姆·H. 鲍威尔在消息发布后的新闻发布会上强调，任何额外的变化都将取决于随后到来的经济数据。
Taken together, those statements were a meaningful shift in the Fed's stance. For months, officials had assumed that additional increases would be needed. Now, they could stop raising interest rates at any upcoming meeting -- perhaps as soon as their gathering on June 13-14.
总而言之，这些声明表示美联储立场发生了重大转变。几个月来，官员们一直认为需要进一步提高利率。现在，接下来的任何一次会议上他们都可能不再加息--可能在最近的6月13-14日的会议上也不会加息。
Yet central bankers were careful to keep their options open at a hugely uncertain economic moment, suggesting that they could continue to raise rates if the economy and inflation prove hot.
然而，在经济充满不确定性的时刻，央行官员们注意保留了自己的选择余地，这表明如果事实证明经济和通胀过热，他们还是可能会继续加息。
"A decision on a pause was not made today," Mr. Powell said at his news conference. "We'll be driven by incoming data, meeting by meeting, and we'll approach that question at the June meeting."
"暂停加息的决定不是今天做出的。"鲍威尔在新闻发布会上说。"我们会受随后到来的数据的推动，通过一次次的会议来研究，我们将在6月份的会议上讨论这个问题。"
Stocks, which initially reacted positively to the Fed's statement, slumped after Mr. Powell's remarks suggested that a gentler rate path was not guaranteed. The S&P 500 ended the day down 0.7 percent.
股市最初对美联储的声明做出了积极反应，但在鲍威尔的言论表明不能保证更温和的利率路线后又暴跌。标准普尔500指数当天收盘下跌0.7%。
The Fed's careful stance reflects the complicated set of challenges that central bankers are confronting. The central bank is trying to tame inflation by cooling the economy, but without putting it in a deep freeze: Officials do not want unemployment to soar by more than is necessary to wrestle price increases under control.
美联储的谨慎立场反映了央行官员面临的一系列复杂挑战。央行试图通过给经济降温来抑制通胀，但也不能让经济陷入深度冻结：官员们不希望失业率飙升的幅度超过控制物价上涨所需的水平。
For now, inflation remains well above their 2 percent goal, at 4.2 percent as measured by the personal consumption expenditures index, and growth has shown signs of resilience in spite of the central bank's many rate moves.
目前，通货膨胀率仍远高于2%的目标，根据个人消费支出指数衡量，通货膨胀率为4.2%，尽管央行多次加息，但通胀率仍显示反弹迹象。
At the same time, tumult in the banking sector could slow lending and increase the odds of a recession, and an impending debt limit showdown could spark turmoil in markets, among other risks.
与此同时，银行业的动荡可能会减缓放贷速度并增加经济衰退的概率，即将到来的对债务上限问题的最终较量可能会引发市场动荡，此外还存在其他风险。
Fed officials are trying to figure out how much they expect the economy to slow in light of those developments -- and what that means for policy. "We have credit conditions tightening not just in the normal way, but perhaps a little bit more," Mr. Powell said. "We have to factor all of that in."
美联储官员正在努力弄清楚，鉴于这些事态发展，他们预计经济会放缓多少--以及这对政策意味着什么。"信贷状况不只是正常程度的收紧，可能比正常程度还要更深一些。"鲍威尔说，"我们必须把所有这些因素都考虑进去。"
词汇预习
economic [高考]
美[ˌiːkəˈnɑːmɪk] | 英[ˌiːkəˈnɒmɪk]
adj. 经济的，经济学的；有利可图的；节约的
economy [高考]
美[ɪˈkɑːnəmi] | 英[ɪˈkɒnəmi]
n. 经济；节约 adj. 经济的；廉价的
additional [高考]
美[əˈdɪʃənl] | 英[əˈdɪʃənl]
adj. 附加的；额外的
release [高考]
美[rɪˈliːs] | 英[rɪˈliːs]
n. 释放；让渡；发行 vt. 释放；让与；准予发表；发射
consumption [高考]
美[kənˈsʌmpʃn] | 英[kənˈsʌmpʃn]
n. 消费；消耗；肺痨
shift [高考]
美[ʃɪft] | 英[ʃɪft]
v. 移动；改变；换挡；字型转换 n. 轮班；变化；移动；计谋；轮班职工
spite [高考]
美[spaɪt] | 英[spaɪt]
n. 恶意；怨恨 v. 刁难；惹怒；冒犯
initially [高考]
美[ɪˈnɪʃəli] | 英[ɪˈnɪʃəli]
adv. 最初
upcoming [高考]
美[ˈʌpˌkʌmɪŋ] | 英[ˈʌpkʌmɪŋ]
adj. 即将来临的；预定将要
positively [高考]
美[ˈpɑzətɪvli] | 英[ˈpɒzətɪvli]
adv. 极其；绝对地；十分肯定的；坚定的
sector [高考]
美[ˈsektər] | 英[ˈsektə(r)]
n. 部门；部分；区域 n. [计]扇形；扇区 vt. 使分成部分
tame [高考]
美[teɪm] | 英[teɪm]
adj. 驯服的；柔顺的；乏味的 vt. 驯养；使驯服；压制 vi. 变得驯服
data [高考]
美[ˈdeɪtə] | 英[ˈdeɪtə]
n. 数据；资料
approach [高考]
美[əˈproʊtʃ] | 英[əˈprəʊtʃ]
v. 接近；建议；接洽；着手处理 n. 方法；接近；路径；道路
growth [高考]
美[ɡroʊθ] | 英[ɡrəʊθ]
n. 【U】增长；生长；发展；种植 n. 【C】生长物；【医】瘤;赘生物
figure [高考]
美[ˈfɪɡjər] | 英[ˈfɪɡə(r)]
n. 图形；人物；身材；体形 v. 认为；是重要部分；是…的部分；计算（数量或成本）
rate [高考]
美[reɪt] | 英[reɪt]
n. 比率；速度；价格；费用；等级 v. 认为；估价；定等级；值得；怒斥；责骂
range [高考]
美[reɪndʒ] | 英[reɪndʒ]
n.范围; 射程; 类别; （山脉，房屋等的）排列 vi.搜索; 变化; 延伸; 漫游 vt.排列; （按一定位置或顺序）排序; 把…分类; 徘徊 adj.牧场的，放牧区的
appropriate [高考]
美[əˈproʊpriət , əˈproʊprieɪt] | 英[əˈprəʊpriət , əˈprəʊprieɪt]
adj. 适当的；相称的 vt. 占用；拨出(款项)
pause [高考]
美[pɔːz] | 英[pɔːz]
n. 暂停；中止；犹豫不决 vi. 停顿；中止
debt [高考]
美[det] | 英[det]
n. 债务；恩情；负债状态；义务；罪
uncertain [高考]
美[ʌnˈsɜːrtn] | 英[ʌnˈsɜːtn]
adj. 不确定的；不稳定的；易变的
unemployment [高考]
美[ˌʌnɪmˈplɔɪmənt] | 英[ˌʌnɪmˈplɔɪmənt]
n. 失业；失业人数
wrestle [高考]
美[ˈresl] | 英[ˈresl]
v. 摔跤；斗争；努力解决；斟酌 n. 摔跤比赛；格斗
increase in [高考]
美[ɪnˈkris ɪn] | 英[inˈkri:s in]
增加； 增大
figure out [高考]
美[ˈfɪɡjər aʊt] | 英[ˈfɪɡə(r) aʊt]
vt. 算出；想出；解决；理解；断定
necessary to [高考]
美 | 英
n. 为 ... 所必需
in spite of [高考]
美[ɪn spaɪt əv] | 英[ɪn spaɪt əv]
不顾；不管；尽管
under control [高考]
美['ʌndər kən'troʊl] | 英['ʌndə kən'trəʊl]
处于控制之下
means [高考]
美[miːnz] | 英[miːnz]
n. 方法；手段；收入；财产 v. 意思是，意味（动词mean的第三人称单数）
complicated [高考]
美[ˈkɑːmplɪkeɪtɪd] | 英[ˈkɒmplɪkeɪtɪd]
adj. 复杂难懂的；结构复杂的
remains [高考]
美[rɪˈmeɪnz] | 英[rɪˈmeɪnz]
n. 剩余物；遗迹；遗体
soar [高考]
美[sɔːr] | 英[sɔː(r)]
vi. 翱翔；高飞；猛增；高涨；高耸 n. 翱翔；高飞
would [高考]
美[wʊd , wəd] | 英[wʊd , wəd]
aux. 将；可能；大概；总会；愿意；will的过去式
index [四级]
美[ˈɪndeks] | 英[ˈɪndeks]
n. 指数；索引；(刻度盘上的)指针 v. 指出；编索引
spark [四级]
美[spɑːrk] | 英[spɑːk]
vi. 闪烁；冒火花；热情回应 vt. 激发；引起；向...求爱 n. 火星；朝气；情人；俗丽的年轻人
recession [四级]
美[rɪˈseʃn] | 英[rɪˈseʃn]
n. 后退；（经济）不景气
inflation [四级]
美[ɪnˈfleɪʃn] | 英[ɪnˈfleɪʃn]
n. 通货膨胀；膨胀
combine with [四级]
美[kəmˈbaɪn wɪð] | 英[kəmˈbain wið]
与 ... 结合(联合)
in light of [四级]
美[ɪn laɪt əv] | 英[ɪn laɪt əv]
adj. 考虑到(从 ... 观点； 由于 ... 结果)
gathering [四级]
美[ˈɡæðərɪŋ] | 英[ˈgæðərɪŋ]
n. 集会；聚集
odds [四级]
美[ɑːdz] | 英[ɒdz]
n. 机率；可能性；差别；投注赔率；让步；优势
hinge [六级]
美[hɪndʒ] | 英[hɪndʒ]
n. 铰链；关键 vt. 用铰链装 vi. 依情况而定
stance [六级]
美[stæns] | 英[stæns]
n. 立场；态度；站立姿势
remarks [专四]
美[rɪ'maks] | 英[rɪ'ma:ks]
n. 附记；备注
tightening [专四]
美['taɪtnɪŋ] | 英['taɪtnɪŋ]
n. 上紧；固定；紧密
turmoil [专四]
美[ˈtɜːrmɔɪl] | 英[ˈtɜːmɔɪl]
n. 混乱；骚动
resilience [专八]
美[rɪˈzɪliəns] | 英[rɪˈzɪliəns]
n. 适应力；弹性
tumult [专八]
美[ˈtuːmʌlt] | 英[ˈtjuːmʌlt]
n. 骚乱；嘈杂声；烦乱
trying [专八]
美[ˈtraɪɪŋ] | 英[ˈtraɪɪŋ]
adj. 难受的；令人厌烦的
incoming [专八]
美[ˈɪnkʌmɪŋ] | 英[ˈɪnkʌmɪŋ]
adj. 正来临的；新任的 n. 进来；收入(通常复数)
impending [专八]
美[ ɪmˈpendɪŋ] | 英[ɪmˈpendɪŋ]
adj. 即将发生的；迫在眉睫的
hugely [考研]
美[ˈhjuːdʒli] | 英[ˈhju:dʒli]
adv. 巨大地；非常地
Federal [考研]
美[ˈfedərəl] | 英[ˈfedərəl]
adj. 联邦制的；联邦政府的；同盟的 n. 联邦主义者；同盟盟友
following [考研]
美[ˈfɑːloʊɪŋ] | 英[ˈfɒləʊɪŋ]
adj. 接着的；下列的 prep. 在 ... 以后 n. 追随者；下列各项
重点讲解
Fed Makes 10th Rate Increase and Opens Door to Pause
美联储第10次加息，并开启了暂停加息的大门
straight adj./adv. 连续的/连续地
【例】The team has had five straight wins.
这支队已连赢五场比赛了。
They had been working for 16 hours straight.
他们已经一连工作了 16 个小时。
【近义词】consecutive/consecutively adj./adv. 连续的/连续地
【拓展】a winning streak 连续获胜
tame v. 驯服；控制
【例】to tame a lion/one’s anger 驯服狮子/压制怒火
Federal Reserve officials raised interest rates by a quarter-point on Wednesday, the 10th straight increase in an aggressive campaign to tame rapid inflation.
周三，美联储官员加息25个基点，这是美联储采取积极措施抑制快速上升的通胀率以来，第10次连续加息。
straight adj./adv. 连续的/连续地
【例】The team has had five straight wins.
这支队已连赢五场比赛了。
They had been working for 16 hours straight.
他们已经一连工作了 16 个小时。
【近义词】consecutive/consecutively adj./adv. 连续的/连续地
【拓展】a winning streak 连续获胜
tame v. 驯服；控制
【例】to tame a lion/one’s anger 驯服狮子/压制怒火
But they also opened the door to pausing rate increases as their policies combine with bank turmoil to weigh down the economy.
但当加息政策与银行动荡相结合而拖累了经济时，美联储官员也为暂停加息打开了大门。
weigh down
1. 压倒；往下压；压得无法动弹
【例】I was weighed down with baggage.
我被行李压得走不动路。
2. 使烦恼；使忧心忡忡
【例】The responsibilities of the job are weighing her down.
工作的责任压得她喘不过气来。
Central bankers lifted rates to a range of 5 to 5.25 percent, a level they had not reached since the summer of 2007. The move capped the fastest series of rate increases since the 1980s.
央行官员将利率区间上调至5%至5.25%，这是自2007年夏天以来从未达到的水平。这一举措为1980年代以来速度最快的一系列加息动作画上了句号。
cap v. 完成；使结束
【例】to cap the meal with dessert 用甜点结束这一餐
【近义词】wrap sth up 圆满完成；顺利结束
【例】The speech wraps up the conference for today.
讲话为今天的会议画上了圆满的句号。
But in their statement announcing the decision, policymakers also tempered language around future rate increases, saying that additional moves "may" be appropriate.
但在宣布这一决定的声明中，政策制定者对于未来加息也在措辞上留下了余地，称采取额外措施"可能"是合适的。
temper v. 使缓和；使温和
【例】temper criticism with reason 以说理来缓和批评的口气
Jerome H. Powell, the Fed chair, underscored in a news conference following the release that any additional changes would hinge on incoming economic data.
美联储主席杰罗姆·H. 鲍威尔在消息发布后的新闻发布会上强调，任何额外的变化都将取决于随后到来的经济数据。
hinge on 取决于；有赖于
【例】His success hinges on how well he does at the interview.
他能否成功要看他在面试中的表现。
【近义词】depend on/rely on 取决于
Taken together, those statements were a meaningful shift in the Fed's stance. For months, officials had assumed that additional increases would be needed. Now, they could stop raising interest rates at any upcoming meeting -- perhaps as soon as their gathering on June 13-14.
总而言之，这些声明表示美联储立场发生了重大转变。几个月来，官员们一直认为需要进一步提高利率。现在，接下来的任何一次会议上他们都可能不再加息--可能在最近的6月13-14日的会议上也不会加息。
hinge on 取决于；有赖于
【例】His success hinges on how well he does at the interview.
他能否成功要看他在面试中的表现。
【近义词】depend on/rely on 取决于
Yet central bankers were careful to keep their options open at a hugely uncertain economic moment, suggesting that they could continue to raise rates if the economy and inflation prove hot.
然而，在经济充满不确定性的时刻，央行官员们注意保留了自己的选择余地，这表明如果事实证明经济和通胀过热，他们还是可能会继续加息。
keep the options open 留有选择的余地
【例】What options are kept open to us?
我们还有什么选择？
【近义词】leave the door open for sth 不把门堵死；留有可能性
【例】We parted ways, but we left the door open for working together again sometime.
我们分道扬镳了，但还是有之后再次合作的可能性。
"A decision on**** a pause was not made**** today," Mr****.**** Powell**** said**** at**** his news**** conference****.**** "We'll**** be**** driven**** by**** incoming**** data****,**** meeting by**** meeting,**** and we****'ll**** approach**** that**** question**** at**** the June**** meeting."
"暂停加息的决定不是今天做出的。"鲍威尔在新闻发布会上说。"我们会受随后到来的数据的推动，通过一次次的会议来研究，我们将在6月份的会议上讨论这个问题。"
Stocks****,**** which initially reacted positively**** to**** the Fed's statement,**** slumped after Mr****.**** Powell****'s remarks suggested that**** a gentler rate**** path**** was not guaranteed****.**** The S&P 500 ended the day down**** 0.7 percent.****
股市最初对美联储的声明做出了积极反应，但在鲍威尔的言论表明不能保证更温和的利率路线后又暴跌。标准普尔500指数当天收盘下跌0.7%。
The Fed's careful stance reflects the complicated set of challenges that central bankers are confronting. The central bank is trying to tame inflation by cooling the economy, but without putting it in a deep freeze: Officials do not want unemployment to soar by more than is necessary to wrestle price increases under control.
美联储的谨慎立场反映了央行官员面临的一系列复杂挑战。央行试图通过给经济降温来抑制通胀，但也不能让经济陷入深度冻结：官员们不希望失业率飙升的幅度超过控制物价上涨所需的水平。
wrestle v. 摔跤；奋力对付；全力解决
【例】She has been wrestling to raise the money all year.
她这一年来一直在想方设法筹集这笔资金。
For now, inflation remains well above their 2 percent goal, at 4.2 percent as measured by the personal consumption expenditures index, and growth has shown signs of resilience in spite of the central bank's many rate moves.
目前，通货膨胀率仍远高于2%的目标，根据个人消费支出指数衡量，通货膨胀率为4.2%，尽管央行多次加息，但通胀率仍显示反弹迹象。
resilience n. 快速复原的能力；反弹
【例】the resilience of the human body/in the economy 人体复原力/经济复苏的能力
At the same time, tumult in the banking sector could slow lending and increase the odds of a recession, and an impending debt limit showdown could spark turmoil in markets, among other risks.
与此同时，银行业的动荡可能会减缓放贷速度并增加经济衰退的概率，即将到来的对债务上限问题的最终较量可能会引发市场动荡，此外还存在其他风险。
impending adj. （尤指坏事）即将发生的
【例】impending danger/disaster 迫在眉睫的危险/灾难
【近义词】upcoming adj. 即将到来的
Fed officials are trying to figure out how much they expect the economy to slow in light of those developments -- and what that means for policy. "We have credit conditions tightening not just in the normal way, but perhaps a little bit more," Mr. Powell said. "We have to factor all of that in."
美联储官员正在努力弄清楚，鉴于这些事态发展，他们预计经济会放缓多少--以及这对政策意味着什么。"信贷状况不只是正常程度的收紧，可能比正常程度还要更深一些。"鲍威尔说，"我们必须把所有这些因素都考虑进去。"
factor sth in 把……因素包括进去
【例】People are earning more, but when inflation is factored in, they are no better off.
人们挣的钱更多了，但如果把通胀因素考虑进去，其实人们的日子并没有变得更好过。
课后练习
What did the Federal Reserve do on Wednesday?
A. It planned multiple rate increases to control inflation.
B. It shifted its focus from inflation to banking problems.
C. It raised rates to a high level after continuous rate increases.
D. It adjusted the range of interest rates to a lower level.
What was the Federal Reserve’s attitude towards further rate increases?
A. It made it clear that rates would not be raised again.
B. It had not reached an agreement about interest rates.
C. It gave contradictory messages about rate increases.
D. It did not deny the possibility of raising rates again.
The Federal Reserve is faced with the challenge of ____.
A. restoring people’s confidence in the stock market
B. striking a balance between inflation and recession
C. making accurate predictions about the inflation rate
D. stimulating consumer spending despite high prices
What can be learned about the banking problems?
A. The bank collapse worsens the debt limit issue.
B. Credit tightening increases the risk of recession.
C. The banking tumult makes it necessary to raise rates.
D. Banks are suffering losses from lending less.