Risks to U.S. economic growth on rise: Bernanke

 WASHINGTON, July 17 (Xinhua) -- Top policymakers of the U.S. Federal Reserve believed that risks to U.S. economic growth have increased, U.S. Federal Reserve Chairman Ben Bernanke said Tuesday.

"Participants at the June FOMC (Federal Open Market Committee) meeting indicated that they see a higher degree of uncertainty¹ about their forecasts than normal and that the risks to economic growth have increased," Bernanke said in his semi-annual monetary² policy testimony³ before the Senate Banking⁴ Committee.

The U.S. economy has continued to recover, but economic activity appeared to have decelerated somewhat during the first half of this year, said the central bank chief.

After rising at an annual rate of about 2.5 percent in the second half of 2011, U.S. real gross domestic product (GDP) expanded at a nearly 2 percent pace in the first quarter of this year, and "available indicators⁵ point to a still-smaller gain in the second quarter" in 2012, said Bernanke in his testimony.

Bernanke highlighted the renewed intensification⁶ of euro area crisis and the U.S. fiscal⁷ uncertainty as the two main sources of risks to the U.S. economic recovery.

Although eurozone authorities have announced a number of measures to cope with eurozone debt crisis, including funding for the recapitalization of Spain's troubled banks, Europe's financial markets and economy remained under "significant stress," with spillover effects on financial and economic conditions in the rest of the world, including the United States, he added.

The possibility that the situation in Europe might worsen further remained a significant risk to the U.S. outlook, said Bernanke, urging U.S. Congress to address the nation's fiscal challenges in a way that takes into account both the need for long- run sustainability and the fragility of the economic recovery.

1 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。

2 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。

3 testimony   

n.证词；见证，证明

参考例句：

• The testimony given by him is dubious.他所作的证据是可疑的。
• He was called in to bear testimony to what the police officer said.他被传入为警官所说的话作证。

4 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

5 indicators   

（仪器上显示温度、压力、耗油量等的）指针( indicator的名词复数 )； 指示物； （车辆上的）转弯指示灯； 指示信号

参考例句：

• The economic indicators are better than expected. 经济指标比预期的好。
• It is still difficult to develop indicators for many concepts used in social science. 为社会科学领域的许多概念确立一个指标仍然很难。

6 intensification   

n.激烈化，增强明暗度；加厚

参考例句：

• The intensification of the immunological response represents the body's natural defense. 增强免疫反应代表身体的自然保卫。 来自辞典例句
• Agriculture in the developing nations is not irreversibly committed, to a particular pattern of intensification. 发展中国家的农业并没有完全为某种集约化形式所束缚。 来自辞典例句

7 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。