voa标准英语2008-US Central Bank: More Action Needed to Stem Hous

Central bank chairman Ben Bernanke said Thursday that the U.S. home mortgage market is still not functioning properly and more needs to be done to promote a recovery.
　

Ben Bernanke (file photo)

Bernanke spoke¹ at housing conference held at the Federal Reserve. He said the government must do more to turn back the wave of foreclosures on homeowners unable to meet their monthly mortgage payments. More than 2.2 million foreclosures are expected to have occurred this year.

"Our housing market is under a lot of stress, both because of the adjustment going on because of the housing price correction, but also because the mortgage market is dysfunctional to some extent," he said.

What has become a global economic crisis was touched off in August 2007 by a wave of defaults in the sub-prime U.S. housing markets. Both the Fed and the Treasury² have initiated³ various programs to assist mortgage borrowers and recently mortgage interest rates have fallen to their lowest levels in several years.

Stock prices in New York fell Thursday amid rising uncertainty⁴ over whether congress will approve emergency loans for the Detroit-based U.S. auto⁵ industry. Making their second appearance on Capitol Hill in two weeks, the heads of the big three carmakers warned that without immediate⁶ assistance one or more of the companies could go bankrupt.

Money manager Lincoln Ellis says General Motors shares tumbled 15 percent amid renewed doubts about that company's viability⁷.

"You're hearing so many conflicting messages [on the auto bailout]… There is also definitely uncertainty on the jobs report that is coming Friday," he said.

Market participants are anticipating a report showing a loss of up to 300,000 U.S. jobs in November.

The Dow Jones Industrial Average fell 215 points, or 2.5 percent, to 8,376. It was the first loss for the index in three days.

Oil prices were steady at below $44 a barrel. Reflecting plummeting⁸ global demand, oil is down nearly 70 percent from its July 2008 record high and is now at its lowest level in nearly four years.

1 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

2 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

3 initiated   

n. 创始人 adj. 新加入的 vt. 开始，创始，启蒙，介绍加入

参考例句：

• He has not yet been thoroughly initiated into the mysteries of computers. 他对计算机的奥秘尚未入门。
• The artist initiated the girl into the art world in France. 这个艺术家介绍这个女孩加入巴黎艺术界。

4 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。

5 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。

6 immediate   

adj.立即的；直接的，最接近的；紧靠的

参考例句：

• His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。
• We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。

7 viability   

n.存活(能力)

参考例句：

• What is required to achieve or maintain such viability? 要达到或维持这种生存能力需要什么？
• Scientists are experimenting to find ways to ensure the viability of seeds for even longer periods of time. 正如我们所说，科学家正在试验努力寻找让种子的生命力更加延长的方法。

8 plummeting   

v.垂直落下，骤然跌落( plummet的现在分词 )

参考例句：

• Prices are rising, falling, going up, going down, shooting up, plummeting, etc. 物价在上涨、下跌、上升、下落、猛然上涨、骤然下跌等。 来自辞典例句
• The enemy plane went plummeting into the sea. 敌机直直掉进海里。 来自辞典例句