VOA标准英语2013--Bernanke Offers Mixed Economic Outlook For US

（单词翻译）

Bernanke Offers Mixed Economic Outlook For US

Despite a strong pickup¹ in manufacturing and a much-improved housing market, the outlook for the US economy remains² mixed. The Federal Reserve said U.S. growth is unlikely to exceed 2.8 percent in 2013. 

On the other hand, Fed Chairman Ben Bernanke expects U.S. unemployment will fall faster than expected - to as low as 7.3 percent by the end of this year.

"Private payrolls³ are growing more quickly, total hours have increased, the rate of filings and new claims for unemployment insurance has fallen, and the unemployment rate has continued to tick down," Bernanke said.

But persistent⁴ concerns about government spending cuts, tax hikes, and new signs of instability in Europe continue to weigh on the central bank. As a result, the Fed plans to keep its $85 billion a month bond buying program to keep long-term interest rates near zero. The low rates have contributed to an extended winning streak⁵ on Wall Street.

"The stock market right now is really addicted⁶ to this Fed stimulus⁷. I mean if the Fed had given any indication that they were thinking of scaling back the stimulus, the stock market would have sold off very sharply, but instead the market is up," said Greg McBride at Bankrate.com

McBride says that's because low interest rates encourage spending and investments in riskier⁸ assets. While low rates can help boost economic growth, they can also fuel inflation.

Barring a sharp increase in prices, the Fed expects to keep interest rates low until the jobless rate falls to 6.5 percent.

Most experts say that's not likely to happen until at least 2015.