IMF: World Economy Entering 'Dangerous New Phase'

 　　The International Monetary¹ Fund says the U.S. economy is struggling to overcome "sluggish²" growth due to an unresolved government debt crisis and weaknesses in the housing market and household finances.

　　In a report released Tuesday, the IMF downgraded its forecast for U.S. economic growth this year to 1.5 percent, one percentage point lower than its previous projection³. It says the "first priority" of the U.S. government should be to commit to a "credible⁴ fiscal⁵ policy" that puts the country's massive public debt on a "sustainable track."

　　The report urges the White House and Congress to agree on a "medium-term debt reduction plan" to avoid a sudden collapse⁶ of market confidence that could disrupt global economic stability. It also calls for "temporary" government stimulus⁷ measures and an "accommodative" monetary policy to encourage private economic activity.

　　In another report highlighting weakness in the housing market, the U.S. Commerce Department said Tuesday construction of new homes fell more than expected in August.  It says U.S. housing starts declined 5 percent from July, to a seasonally-adjusted annual rate of 571,000 homes.

　　The IMF also predicted U.S. unemployment will remain above 9 percent next year.  The jobless rate was 9.1 percent in August.  Persistently high unemployment has dampened consumer spending, the biggest part of the U.S. economy.

　　Analysts⁸ expect the U.S. Federal Reserve to announce new measures to try to boost the U.S. economy on Wednesday, at the end of a two-day policy meeting. The central bank opened the meeting Tuesday.

　　Analysts say the Fed is likely to announce a move to buy long-term U.S. government bonds as a way of pushing down long-term interest rates and encouraging businesses to invest. The U.S. central bank has kept short-term interest rates near zero since 2008.

　　The analysts do not expect the Fed to repeat its recent purchase of $600 billion in U.S. Treasuries⁹, a "quantitative¹⁰ easing" operation that expired in June. The operation fell short of the Fed's goal of generating self-sustaining economic growth and critics said it risked fueling inflation.

1 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

2 sluggish   

adj.懒惰的，迟钝的，无精打采的

参考例句：

• This humid heat makes you feel rather sluggish.这种湿热的天气使人感到懒洋洋的。
• Circulation is much more sluggish in the feet than in the hands.脚部的循环比手部的循环缓慢得多。

3 projection   

n.发射，计划，突出部分

参考例句：

• Projection takes place with a minimum of awareness or conscious control.投射在最少的知觉或意识控制下发生。
• The projection of increases in number of house-holds is correct.对户数增加的推算是正确的。

4 credible   

adj.可信任的，可靠的

参考例句：

• The news report is hardly credible.这则新闻报道令人难以置信。
• Is there a credible alternative to the nuclear deterrent?是否有可以取代核威慑力量的可靠办法？

5 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

6 collapse   

vi.累倒；昏倒；倒塌；塌陷

参考例句：

• The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
• The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。

7 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

8 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

9 treasuries   

n.（政府的）财政部( treasury的名词复数 )；国库，金库

参考例句：

• Yields on Treasuries, Bunds and gilts can remain at historically low levels. 美国国债、德国国债和英国国债的收益率仍然可以维持在历史低位。 来自互联网
• Treasuries and gold rose in response but the dollar fell sharply. 接着，国债和黄金的价格上涨，而美元价格则猛跌。 来自互联网

10 quantitative   

adj.数量的，定量的

参考例句：

• He said it was only a quantitative difference.他说这仅仅是数量上的差别。
• We need to do some quantitative analysis of the drugs.我们对药物要进行定量分析。