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英语文摘:U.S. economic recovery slow, further stimulus needed: IMF

Source:  Onion  2010-07-31   English BBS   Favorite  
"With recovery still dependent on policy support, rising downside risks, and substantial long-term fiscal and financial-sector challenges, further decisive action is needed to achieve stable medium-term growth and limit risks of adverse international spillovers," the IMF said.

It argued that although the envisioned withdrawal in 2011 is appropriate, fiscal stimulus should continue to play a supportive role this year.

The 862-billion-dollar stimulus package, which President Barack Obama signed into law shortly after taking office, has so far saved 2.8 million jobs, according to the White House.

Given a slowdown of economic recovery indicated by a host of recent economic reports, some economists and politicians insist that the administration should draw up additional stimulative measures to avoid a so-called "double-dip" recession. But this is strongly opposed by those who are deficit-sensitive and believe additional measures will only accelerate the bankruptcy of the federal government.

"Monetary support can be sustained for longer, given quiescent inflation expectations and forthcoming fiscal drag," the report added.

The Federal Reserve has maintained the key interest rate at a record low of near zero since the end of 2008 to prop up the economy. It also designed a variety of unconventional facilities, including purchases of Treasury debt and mortgage-backed securities, to ameliorate financial strains.

Federal Reserve chairman Ben Bernanke recently told lawmakers that the Fed was "prepared to take further policy actions as needed," but stopped well short of saying action was imminent.


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