Albistea: Fed Testimony1
Janet L. Yellen-en Semiannual Monetary Policy Report to the Congress
(Mosler-en iruzkinak urdinez.)
Looking forward, prospects are favorable for further improvement in the U.S. labor market and the economy more broadly. Low oil prices
Badirudi oraindik ondokoa kanpoan utzi duela, alegia, petrolio erosleak aurreztutako dolar bat saltzaileak galdutako dolar bat dela.
And ongoing employment gains should continue to bolster consumer spending, financial conditions generally remain supportive of growth.
Bai, mailegu ematearen hazkunde tasa erlatiboki apal eta egonkorra izan da.
And the highly accommodative monetary policies abroad should work to strengthen global growth.
Tasa baxu eta negatiboek eta QE2 delakoak orain eskari agregatua areagotzeko ondoriorik gabeko historia luze bat daukate.
In addition, some of the headwinds restraining economic growth, including the effects of dollar appreciation on net exports and the effect of lower oil prices on capital spending, should diminish over time.
Baina, baina galdera hauxe da: zeinek ordezkatzen du kapital gastuaren galera? Kapital gastu gehiketa hori gabe, hazkundea, onenean, gelditzen da eta segur aski negatibo bilakatzen da ‘eskari leakage3‘ delakoek hazten segitzen duten heinean.
Halaber, AEBko esportazioen ahulezia partzialki petrolio prezio baxuagoen ondorioa da, AEBko inportaturiko gasoliorako murriztutako gastua = ez-egoiliarrei murriztutako errenta eskuragarria AEBko ondasun eta zerbitzuak inportatzeko. Eta petrolio kapital gastu globalen jaitsierak hazkunde globalaren aurka lan egiten du, baita AEBko esportazioen kontra ere.
As a result, the FOMC expects U.S. GDP growth to strengthen over the remainder of this year and the unemployment rate to decline gradually. As always, however, there are some uncertainties in the economic outlook. Foreign developments, in particular, pose some risks to U.S. growth. Most notably, although the recovery in the Euro area appears to have gained a firmer footing.
Hori ondokoari dagokio, alegia, euro ahulak bere esportazioei laguntze die. Ezin dira biak batera gertatu: AEBrako dolarra kontrako haize bat baino gutxiagokoa bilakatzen bada, EBrako euroa atzeko haize bat baino gutxiagokoa bihurtuko da.
The situation in Greece remains difficult. And China continues to grapple with the challenges posed by high debt, weak property markets, and volatile financial conditions. But economic growth abroad could also pick up more quickly than observers generally anticipate, providing additional support for U.S. economic activity.
Horrek berriz suposatzen du tasa baxuagoak eta QE egokigarriak direla, bereziki EBn eta Txinan.
The U.S. economy also might snap back more quickly as the transitory influences holding down first-half growth fade and the boost to consumer spending from low oil prices shows through more definitively.
Berriz, oraindik suposatzen da petrolio prezio baxuagoak neto positibo bat direla.
2 Ikus Quantitative Easing (QE) inozoentzat: https://www.unibertsitatea.net/blogak/heterodoxia/2015/03/27/quantitative-easing-qe-inozoentzat/.
3 Leakages: leakages are the non-consumption uses of income, http://en.wikipedia.org/wiki/Leakage_%28economics%29.
