I think its good news but we need to string this good news together over time, said Snaith.
Sean Snaith says what happens in the final six-month of will show whether the recovery will continue. He said what the U.S. central bank does next is very important.
How will the Federal Reserve react if in fact the economic recovery is gaining momentum? Will this speed up the timing and the pace of interest rate hikes? In which case, that certainly could take some air out of the stock market, said Snaith.
The Central Bank -- the Federal Reserve system changed its opinion of the economy recently. The Federal Open Market Committee makes important decisions concerning financial policy. The committee said it plans to reduce bond buying by another ten billion dollars in August.
The bond buying program has kept U.S. interest rates near record lows. Less costly credit has helped increased personal and business spending. The Federal Reserve also has signaled that it does not expect to raise interest rates soon. However, economists warn that low rates for a long period of time could fuel inflation.
And thats the Economics Report for Learning English. Im Mario Ritter.
词汇讲解:
1. expand vt.使变大; 扩张
例句:My duties continue to expand.
我的职能继续扩张。
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