每日一篇:《经济学人》读译参考 Day82

英语是一门需要慢慢积累的学科，想要学好它，速成是不可取的。跟着聚英考研信息网小编每天学一点英语，一起为考研筑起坚实的地基。坚持打卡，培养英语阅读能力及语感，了解词汇用法。

经济学人:美国经济:刺激的涟漪效应(1)

The proposed tax cuts are paid for by bigger budget deficits, a fiscal stimulus that is ill-timed given the business cycle.But the tax cuts favour companies (which in aggregate are generating bumper profits) or rich individuals (who save more of their income).That means the ripple effects from the stimulus are likely to be small.

译文

计划中的减税要由更大的预算赤字来买单，这是一种在给定的商业周期下不合时宜的财政刺激。但是，减税利好公司（它们整体上正在产生越来越大的利润)和富人(他们把更多的收入投入储蓄）。这意味着刺激的涟漪效应可能微乎其微。

The risk that the Federal Reserve tightens too much is aggravated by a change in the make-up of its rate-setting committee, which will take on a more hawkish tinge from next year.Indeed, nothing Mr Trump does is likely to have a bigger effect on the economy than his choices to fill Fed vacancies.But the tightening so far—the Fed raised rates by another quarter of a percentage point this week, to a range of 1.25-1.5%—has been appropriate.

译文

美联储收得太紧的风险因为其利率设定委员会组成的变化而加大了。从明年开始，美联储利率设定委员会将带有一种更加鹰派的色彩。实际上，在特朗普所作所为中，没有哪件事能比他填补美联储空缺的选择对经济产生更大的影响。但是，到目前为止，这种收紧——本周，美联储将利率又提高了四分之一个百分点，使之达到1.25—1.5之间——是适当的。

As for financial imbalances, pockets of excessive leverage exist.But the stockmarket has reached new highs as real interest rates have fallen: yields have dropped across all asset classes, from property in big cities to junk bonds.Asset prices may be high, but there is a logic to their ascent.

译文

至于金融失衡，大量的过度杠杆是存在的。但是，随着实际利率下降，股市创下一个又一个新高：从大城市的房地产到垃圾债券，所有的资产类别的收益率都下降了。资产价格或许高了，但是，它们的上涨是有逻辑的。

A mature cycle also has pluses.Investment is one.A global upswing in fixed capital spending is already in train, led by America but not confined to it.It is fuelled in part by a drop in uncertainty about the global economy.Businesses that have been reluctant to make long-term bets when one or other of the engines of the world economy has been sputtering are now more willing to put their money to work.

译文

到期的周期也有好处。投资即是其一。一种全球性的固定资产开支上升早已在进行之中，它是由美国引领的，但不限于美国。这部分是因为有关全球经济不确定性的减少而引起的。如今，在世界经济引擎中的一个或另一个一直处于萎靡不振时不愿投下长期赌注的商界更愿意让他们的钱去运转。

注释

1.budget deficits 预算赤字

例句:Fiscal policy uses budget deficits or surpluses to promote economic stability and growth.

财政政策利用预算赤字或剩余来促进经济的稳定和发展。

2.global economy 全球经济

例句:Our trade and our commerce is the engine of our global economy.

我们的贸易和商务是全球经济的引擎。

3.Asset prices 资产价格

例句:The bubble did not only inflate asset prices, it also inflated pay.

以前的泡沫不仅膨胀了资产的价格，同时也膨胀了薪酬。

4.As for 至于

例句:As for Laura and me, the colour of our skin has never mattered.

至于我和劳拉，肤色根本不是问题。

考研英语复习没有头绪？想要提升自己的英语实力？那就快来围观聚英考研信息网的英语课程哦，2019考研英语全程班不仅有189课时的名师视频讲解，还有配套的讲义和礼品，课程包含导学、基础及强化等，根据最新大纲，实行全年更新的模式，单课时低至1.5元！更多优惠内容大家可点击以下图片了解详情。

推荐阅读：

1、每日一篇:《经济学人》读译参考 Day81

2、“xx大学好不好考？”测测你目标院校专业的这七大标准你就知道了！