题目内容
Speaking to the Kansas City Fed's annual economic conference, Greenspan, Federal Re- serve Chairman, reemphasized that the Fed can't now point interest rate policy at stock, housing or other asset prices, even if it were so inclined. Greenspan also said the housing cool-off doesn't have to be painful if the nation preserves its economic flexibility. "The housing boom will inevitably cool down. As part of that process, house-sales volume will decline from currently historic levels, while home-price increases will slow and prices could even decrease," he said.
Earlier, he had warned investors not to assume higher prices for assets such as stocks or houses were permanent, saying gains could disappear if the economy or investor sentiment turned.
Home prices have risen 50% on average over the past five years. The average price of an existing home shot up 13.6% in the second quarter of 2005 compared with a year earlier. There are potential benefits from a housing slowdown. As prices correct and owners can't pull as much equity from their homes, personal savings should rise and the enormous trade deficit should decline. Further, a slowing in the housing market might mean that the Fed, which has been raising interest rates since June 2004 to control potential inflation, might not have to push them as far or fast. A decline in consumer purchases could also slow growth. Consumer spending makes up about two-thirds of the economy.
Lyle Gramley, a former Fed governor now at the Stanford Washington Research Group, does not think Greenspan was predicting a rapid adjustment in housing prices, savings and the trade deficit, but a gradual three-to five-year rear rangement.
Greenspan, who has said the Fed's role is not to stop market bubbles, said that it doesn't have. the expertise to use interest rates to influence asset prices that could change in the future. The speech was probably Greenspan's last to the Kansas City Fed conference. His term ends Jan. 31.
What did Greenspan warn the investors about assets like stocks and houses？
查看答案
搜索结果不匹配？点我反馈
更多问题
What is the man's main purpose in talking to the woman？
听力原文：M: Please come in. Miss Edwards, and close the door behind you.
W: All right.
M: Have a seat over here. How are things going out in the office？
W: Just fine, Mr. Davis, especially with the recent personal shifts.
M: Yes, I thought so. Well, the executive board and I feel that much of our improved performance in the main office is due to your conscientious efforts.
W: Oh, thank you, Mr. Davis. My job has certainly become easier since we computerized our record keeping system. The equipment is a pleasure to use.
M: That's true. But we are especially impressed with how your influence contributes to good office relations and improved staff attitude toward the work.
W: Well, thank you for your confidence. We do have a lot of good people in the office, and the new machinery is wonderful.
M: Yes, but machines are only as good as the people who use them. They cannot as sure harmony, and efficiency in a staff.
W: That's very true.
M: To make a long story short, the board wishes to reward your efforts by making you office manager as of next Monday．That means a ＄250 raise as of the first of next month．
W：I'm deeply honored, Mr. Davis，Thank you．
How does the woman feel about the recent shift of office employees？
Part A
Directions: Read the following three texts. Answer the questions on each text by choosing A, B, C or D. Mark your answers on ANSWER SHEET 1.
When Vice President Cheney spoke last year at Westminster College, its president, Fletcher Lamkin, expected a foreign policy address. Winston Churchill delivered his historic "Iron Curtain" speech there, and the school has hosted speeches by other foreign leaders.
To Lamkin's surprise, Cheney delivered a speech against Sen. John Kerry.
Lamkin, a retired Army brigadier general(准将) and the former dean of academics at West Point, felt he had been misled. He e-mailed the college community to express his disappointment and said that in the interest of balance, he would offer Kerry a chance to speak. Very quickly his email made its way to the national media, and Lamkin found himself in the middle of a coast-to-coast quarrel. Lamkin says he was portrayed as "another college president trying to liberalize his students, and another president who is trying to poison tile minds of students and turn them into flaming liberals."
Lamkin needed help in handling the criticism. So, like a growing number of administrators caught up in controversy, he turned to a specialist in crisis management for advice on how to explain his actions to the press and public in a clear and simple way.
There are no data on how often colleges use crisis managers, but those in the field say that in a world of emails, blogs and wall-to-wall news coverage, demand is increasing. Christopher Simpson, who assisted Lamkin, says a recent crisis conference he hosted drew representatives of 70 institutions, more than expected.
Earlier this year, the University of Colorado turned to Simpson for help. But his hiring led to a short-term controversy of its own, in large part because he is being paid ＄350 an hour. Typically, crisis consultants charge ＄2,500 to ＄3,500 a day. Simpson has since signed a＄150,000 one-year contract to assess the university's public relation needs and help improve its discolored image.
Not everyone is enthusiastic about crisis consultants. Linda Gray, assistant vice president at the University of Central Florida, says that "to a certain extent, the worse the crisis, the closer to home you should deal with it." Gray, who was in charge of public relations at the University of Florida when a serial killer murdered several students in 1990, says, "You ought to be dealing with the crisis, not explaining things to somebody else."
Where did Winston Churchill deliver his "Iron Curtain" speech？
听力原文：M: Good morning. This is John Parker speaking. I'm just ringing to confirm my appointment with Mr. Smith for this afternoon.
W: Yes. Mr. Smith is expecting you at 3 o'clock.
Why is the man making the phone call？
微信支付 
支付宝支付