首页
登录
职称英语
Much of the language used to describe monetary policy, such as "steering the
Much of the language used to describe monetary policy, such as "steering the
游客
2023-09-11
10
管理
问题
Much of the language used to describe monetary policy, such as "steering the economy to a soft landing" or "a touch on the brakes", makes it sound like a precise science. Nothing could be further from the truth. The link between interest rates and inflation is uncertain. And there are long, variable lags before policy changes have any effect on the economy. Hence the analogy that likens the conduct of monetary policy to driving a car with a blackened windscreen, a cracked rear view mirror and a faulty steering wheel.
Given all these disadvantages, central bankers seem to have had much to boast about of late. Average inflation in the big seven industrial economies fell to a mere 2.3% last year, close to its lowest level in 30 years, before rising slightly to 2.5% this July. This is a long way below the double-digit rates which many countries experienced in the 1970s and early 1980s.
It is also less than most forecasters had predicated. In late 1994 the pane] of economists which The Economist polls each month said that America’s inflation rate would average 3.5% in 1995. In fact, it fell to 2.6% in August, and is expected to average only about 3% for the year as a whole. In Britain and Japan inflation is running half a percentage point below the rate predicted at the end of last year. This is no flash in the pan; over the past couple of years, inflation has been consistently lower than expected in Britain and America.
Economists have been particularly surprised by favorable inflation figures in Britain and the United States, since conventional measures suggest that both economies, and especially America’s, have little productive slack. America’s capacity utilization, for example, hit historically high levels earlier this year, and its jobless rate (5.6% in August) has fallen below most estimates of the natural rate of unemployment—the rate below which inflation has taken off in the past.
Why has inflation proved so mild? The most thrilling explanation is, unfortunately, a little defective. Some economists argue that powerful structural changes in the world have up-ended(颠倒) the old economic models that were based upon the historical link between growth and inflation. [br] The passage shows that the author is ______ the present situation.
选项
A、critical of
B、puzzled by
C、disappointed at
D、amazed at
答案
D
解析
推理题。根据第四段第一句,经济学家对于美英良好的通货膨胀率数字感到特别惊讶,由此也可推断出作者的看法。
转载请注明原文地址:https://www.tihaiku.com/zcyy/3003551.html
相关试题推荐
Theuseofdeferential(敬重的)languageissymbolicoftheConfucianidealoft
Theuseofdeferential(敬重的)languageissymbolicoftheConfucianidealoft
[originaltext]Whatisthebestwaytolearnalanguage?Weshouldremember
[originaltext]Whatisthebestwaytolearnalanguage?Weshouldremember
[originaltext]Whatisthebestwaytolearnalanguage?Weshouldremember
[originaltext]M:Sincesomanyofyouhaveaskedmehowtolearnalanguage,I
[originaltext]M:Sincesomanyofyouhaveaskedmehowtolearnalanguage,I
ManydescribeFreudasthemostinfluentialpsychologistofalltime.Yetno
ManydescribeFreudasthemostinfluentialpsychologistofalltime.Yetno
ManydescribeFreudasthemostinfluentialpsychologistofalltime.Yetno
随机试题
Peoplelikebeingtrusted.Theyareannoyed,angry,orfeelhurtiftheyare
Losingajobornotbeingabletofindonealmostalwaysbringsunwelcomech
ProtectYourPrivacyWhenJob-huntingOnlineA)Identitytheft
申请小型汽车准驾车型驾驶证的人年龄条件是多少?()A.18周岁以上60周岁以下
闻一多和徐志摩是哪个诗派的代表诗人()A.怀旧 B.新月 C.复古 D.
分析史基别里特作品《慢板》的谱例: (1)说明曲式名称,画出结构图示,写出调式
桃核承气汤适用于A水热互结证 B下焦蓄水证 C下焦蓄血证 D以上都不是
商业银行应制定符合银行总体业务规划的信息科技战略、信息科技运行计划和信息科技风险
目前。个人信用报告主要用于()。A.银行的各项消费信贷业务 B.商业赊销
施工单位编制的单位工程施工组织设计是()的编制依据。A.施工组织总设计 B.项
最新回复
(
0
)