美国国家公共电台 NPR--Fed chief Powell, confirmed for a 2nd term, is under pressure to rein in inflation

Fed chief Powell, confirmed for a 2nd term, is under pressure to rein¹ in inflation

Transcript²

The Senate has confirmed Jerome Powell to serve another term as chairman of the Federal Reserve. It's a powerful job that puts Powell at the center of the fight to control inflation.

STEVE INSKEEP, HOST:

Federal Reserve Chairman Jerome Powell will remain in charge of the fight against inflation. The Senate just confirmed him for another four-year term. Here's NPR's Scott Horsley.

SCOTT HORSLEY, BYLINE³: Powell supporters praised the Fed chairman for his steady hand in steering⁴ the central bank through the ups and downs of the pandemic economy. Right now consumer prices are way up and climbing at a rapid pace. Powell says he and his colleagues are determined⁵ to bring inflation down.

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JEROME POWELL: We have both the tools we need and the resolve that it will take to restore price stability on behalf of American families and businesses.

HORSLEY: But the Fed's main tool for fighting inflation is a kind of sledgehammer - higher interest rates. By making it more expensive to borrow money, the Fed can knock down demand and cool off prices. But it often dents⁶ the economy in the process. Concern that the Fed's rate hikes might trigger a recession has caused a sharp sell-off in the stock market.

That's where resolve comes in. Powell thinks the economy is strong enough to withstand higher interest rates without falling into recession. But even if it's not, he's prepared to press ahead with higher rates, if that's what it takes to bring inflation under control.

Powell has spoken admiringly of former Fed Chairman Paul Volcker, who famously tolerated punishing back-to-back recessions in the early 1980s in order to break a decadelong cycle of runaway⁷ price hikes.

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POWELL: He had the courage to do what he thought was the right thing. That's the test. We see restoring price stability as absolutely essential for the country.

HORSLEY: Powell's lopsided confirmation⁸ vote, 80-19, shows the broad bipartisan support he enjoys in the Senate. That popularity may be tested, though, as the Fed's effort to control inflation starts to be felt in higher borrowing costs and a possible economic slowdown.

Scott Horsley, NPR News, Washington.

(SOUNDBITE OF MATT JORGENSEN'S "SPACE, PLANE AND LINE")

1 rein   

n.疆绳，统治，支配；vt.以僵绳控制，统治

参考例句：

• The horse answered to the slightest pull on the rein.只要缰绳轻轻一拉,马就作出反应。
• He never drew rein for a moment till he reached the river.他一刻不停地一直跑到河边。

2 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

3 byline   

n.署名；v.署名

参考例句：

• His byline was absent as well.他的署名也不见了。
• We wish to thank the author of this article which carries no byline.我们要感谢这篇文章的那位没有署名的作者。

4 steering   

n.操舵装置

参考例句：

• He beat his hands on the steering wheel in frustration. 他沮丧地用手打了几下方向盘。
• Steering according to the wind, he also framed his words more amicably. 他真会看风使舵，口吻也马上变得温和了。

5 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

6 dents   

n.花边边饰；凹痕( dent的名词复数 )；凹部；减少；削弱v.使产生凹痕( dent的第三人称单数 )；损害；伤害；挫伤（信心、名誉等）

参考例句：

• He hammered out the dents in the metal sheet. 他把金属板上的一些凹痕敲掉了。 来自《简明英汉词典》
• Tin dents more easily than steel. 锡比钢容易变瘪。 来自《现代英汉综合大词典》

7 runaway   

n.逃走的人，逃亡，亡命者；adj.逃亡的，逃走的

参考例句：

• The police have not found the runaway to date.警察迄今没抓到逃犯。
• He was praised for bringing up the runaway horse.他勒住了脱缰之马受到了表扬。

8 confirmation   

n.证实，确认，批准

参考例句：

• We are waiting for confirmation of the news.我们正在等待证实那个消息。
• We need confirmation in writing before we can send your order out.给你们发送订购的货物之前，我们需要书面确认。