AP News from ybmsisa (Bernanke Confident On Recovery; Warns on Deficit)

The economic recovery will have staying power, but it won't be strong enough to quickly put Americans back to work.

That's the message from Federal Reserve Chairman Ben Bernanke.

Ben Bernanke/Federal Reserve Chairman:

If the pace of recovery is moderate as I expect,

a significant amount of time will be required to restore the 8.5 million jobs that were lost during the past two years.

But new government reports show that consumers are showing their resiliency in the face of tough economic challenges.

Shoppers boosted retail sales by 1.6 percent last month, spending on everything from cars and furniture, to clothing and household necessities.

Businesses are also increasing their spending. Many benefiting from stronger demand for US exports.

While the reports show the economy is growing, Bernanke cautions that record high budget deficits need to be scaled back.

Ben Bernanke:

Although sizeable deficits are unavoidable in the near term,

maintaining the confidence of the public and financial markets requires that policymakers move decisively to set the federal budget on a trajectory towards stable fiscal balance.

 Another government report shows that inflation remains tame, rising just one tenth of one percent last month.

That reinforced the Fed's policy of keeping interest rates at record-low levels for an extended period.

Some economists worry that policy will fuel another speculative bubble,

but the Fed says it doesn't see any forming and is closely monitoring the situation.

Mark Hamrick, The Associated Press.




Keywords & Expressions

ㆍconfident
ㆍdeficit
ㆍstaying power
ㆍFederal Reserve 미국 연방 준비 제도 (이사회)
ㆍmoderate
ㆍrestore 
ㆍresiliency
ㆍin the face of
ㆍboost 
ㆍhousehold
ㆍnecessities
ㆍbenefit ~에게 도움이 되다[이롭다]
ㆍdemand
ㆍcaution ~에게 경고하다[주의를 주다], ~하도록 충고하다[타이르다]
ㆍscale 단계로 되어 있다, 점점 높아지다.
ㆍsizeable
ㆍunavoidable
ㆍconfidence 신뢰, 신용, 신임
ㆍpolicymaker 정책 입안[수립]자
ㆍdecisively 결정적으로, 단호하게
ㆍtrajectory 곡선, 궤도, 궤적
ㆍstable
ㆍfiscal 국가 재정[세제]의, 재정(상)의, 재무의, 회계의
ㆍtame
ㆍreinforce
ㆍextended
ㆍfuel ~에 활기를 불어넣다[부채질하다, 자극하다]
ㆍspeculative 투기의, 투기 매매의, 투기적인
ㆍbubble 물거품 같은 계획, 사기, 협잡, 거품 사업, 거품 투기.