US Stocks Recover After Plunging on Bernanke Speech
美国股市开始恢复平稳
Despite very high expectations, the head of the U.S. central bank on Friday did not announce any major steps to bolster the U.S. economy. Speculation had been running high that Federal Reserve Chairman Ben Bernanke would use his scheduled speech at a gathering of top economist in the western state of Wyoming to announce a third round of quantitative easing. Instead, Bernanke leaned on Congress to do more to restore the nation's economic health.
Former central bank official Vincent Reinhart, now an analyst at the American Enterprise Institute was not surprised by the reaction on Wall Street.
前中央银行官员Vincent Reinhart，现任美国企业研究所分析家对华尔街的反应并不感到意外。
"Wall Street almost always gets ahead of itself," said Reinhart. "If you want to know the most selfish person on earth, it's an investor - because every conversation has to end with 'What does it mean for me?' And what the speech today meant for them is - not a lot."
“华尔街几乎总是能超越自己。如果你想知道地球上最自私的人，一定是投资家，因为他们的每一场对话的结尾都是，这对我有什么好处？今天的讲话对他们来说并没有太大好处。”
Expectations were high because it was at the same gathering last year that Bernanke announced a second round of quantitative easing - essentially the purchase of $600 billion worth of U.S. debt to lower interest rates and boost business and consumer spending.
人们的期望非常高。因为在去年的同一个聚会上，伯南克宣布第二轮量化宽松政策——从本质上来说就是购买价值6000亿美元的政府债务，以降低利率，促进商务活动和消费者支出。
European markets had equally high expectations, especially with new figures showing the U.S. economy grew at a slower pace than initial estimates in the first half of this year.
欧洲市场也有着同样高的期望，尤其是新的数据显示美国上半年的经济增长速度比预期还要缓慢。
German market analyst Robert Halver said the U.S. needs a large-scale program similar to one initiated in 1948 that helped to rebuild Europe's war-ravaged economies.
德国市场分析人员Robert Halver表示，美国需要类似于1948年帮助重建欧洲战后满目疮痍的经济所需的大规模项目。
"America needs a demand solution for its problems, not even more liquidity. We have a big chance of risk of recession in America and that's why America needs a new Marshall Plan, a new deal," said Halver.
“美国需要解决问题的方案，而不是资产流动性。美国再次陷入经济衰退的风险非常大，这就是美国需要新的马歇尔计划的原因。”
Vincent Reinhart at AEI said it may not happen immediately, but he believes significant Fed action is just around the corner.
美国企业研究所的Vincent Reinhart表示，这可能不会立即发生，但是他相信联邦储蓄很快将采取重要措施。
"I think ultimately the Federal Reserve will go to QE3 [Quantitative Easing 3]. They'll go to QE3 because there is a persistent drag on the economy and the unemployment rate will stay high," said Reinhart.
“我认为美联储最终将进行第三轮量化宽松政策。他们将进行第三轮量化宽松，因为经济增长速度持续放缓，失业率仍然非常高。”
Of course, much will depend on the Fed's assessment of the U.S. economy at its next meeting in September. But Bernanke insists he still has a range of tools at his disposal. He also urged Congress and the White House to do more to jump start the economy.
当然，这很大程度上要取决于9月份举行下次会议时美联储对美国经济的评估。但是伯南克坚持称，他仍然准备了一系列调节工具。他还敦促国会还白宫采取更多措施来促进经济增长。
Given the political climate in Washington, New York financial expert Jon Henes is not holding his breath.
鉴于华盛顿的政治形势，纽约金融专家Jon Henes并不紧张。
"I'm not optimistic that will happen, not going into an election year," said Henes.
“对于这种情况是否会发生，我并不乐观，至少在即将进入大选的这一年。”
Despite increased pessimism and growing fears of a double-dip recession, key indexes on Wall Street closed higher Friday - on Fed sentiments that the long-term prospects for the U.S. economy remain strong.
尽管人们越来越担忧美国经济可能进入双谷衰退，周五，华尔街主要的股票指数收盘时却出现上涨——因为美联储认为长期来看，美国经济的前景仍然非常乐观。 |