Tag Archives: 夜上海论坛VJ


first_imgThe fresh policymaker projections start to show just how long that might take. At the median, officials see the unemployment rate falling to 6.5 percent at the end of 2021 and 5.5 percent at the end of 2022 – still a full 2 percentage points above where it was at the end of last year, representing millions of lost years of work and wages.“The ongoing public health crisis will weigh heavily on economic activity, employment and inflation in the near term and poses considerable risks to the economic outlook over the medium term,” the Fed said in its policy statement.The response has been an unparalleled level of unanimity in the outlook for monetary policy. All 17 current Fed policymakers see the key overnight interest rate, or federal funds rate, remaining near zero through next year, and 15 of 17 see no change through 2022.Even in the depths of the 2007-2009 financial crisis and recession some policymakers raised a cautionary flag about the need for higher interest rates to guard against inflation.This time that debate has disappeared. The Fed’s preferred measure of inflation is expected to be a weak 0.8 percent this year, compared to the central bank’s goal of 2 percent, and rising to just 1.7 percent at the end of 2022.At this point “we are not even thinking about thinking about raising rates,” Powell said.The decision to leave the policy rate unchanged on Wednesday was unanimous. The central bank also began shaping the longer-term measures it will use to keep the recovery as strong as possible. Officials promised to maintain ongoing Fed bond purchases at least at the current pace of around US$80 billion per month in Treasuries and $40 billion per month in agency and mortgage-backed securities – levels that may be increased later, or supplemented with other strategies.While growth may resume this year, policymaker forecasts show the rebound beginning in earnest in 2021, with economic growth for the year forecast at 5 percent.Notably, the Fed did not mark down its long-run estimates of full employment, trend growth or the federal funds rate, a sign officials feel the country may escape permanent economic damage from a health crisis that has killed more than 112,000 in a few months.“Their messaging is we are keeping rates low, but this is going to work, it is going to get us there,” said Bruce Monrad, chairman and portfolio manager at Northeast Investors Trust in Boston.On Wall Street, which had been near unchanged ahead of the Fed’s statement, stock prices ended mixed. The benchmark S&P 500 index .SPX was down about 0.5 percent whereas the Nasdaq Composite was up about 0.7 percent. Yields on US Treasuries slipped and the dollar fell against a basket of currencies.The pledge to keep monetary policy loose until the US economy is back on track repeats a promise made early in the central bank’s response to the coronavirus pandemic.That response included cutting interest rates to near zero in March and making trillions of dollars in credit available to banks, financial firms, and a wide array of companies.Powell said that while much remains uncertain, particularly the progress of the pandemic, the fiscal and monetary response has been working well so far, maintaining income support for the unemployed and limiting business failures so far.More may be needed, he said.“This is the biggest economic shock in living memory,” Powell said. The response “has been large, forceful and very quick … In a class by itself.”Topics : The US Federal Reserve on Wednesday signaled it plans years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting the economy to shrink 6.5 percent in 2020 and the unemployment rate to be 9.3 percent at year’s end.In the first economic projections of the pandemic era, US central bank policymakers put into numbers what has been an emerging narrative: that the shutdowns, restrictions and other measures used to battle a health crisis will echo through the economy for years to come rather than be quickly reversed as commerce reopens.Some 20 million or more people have been thrown out of work since February, and Fed Chair Jerome Powell acknowledged it could take years for them to all reacquire jobs – an economic blow that is falling heaviest on minority communities at a time when mass protests over police brutality have thrown a new spotlight on racial inequality in the United States. Powell, acknowledging the nationwide demonstrations in his opening remarks at a news briefing, said it was now the Fed’s single-minded mission to bring the job market back to where it was at the end of last year, with the unemployment rate at a record low 3.5 percent and wage gains accumulating for some of the very same lower-paid workers in the service sector that have suffered most during the recent collapse.“Twenty-two, 24 million people – somehow as a country we have to get them back to work,” Powell said via video link after the end of the Fed’s latest two-day policy meeting. “They did not do anything wrong. This was a natural disaster.”“It is a long road. It is going to take some time,” he said. “We can use our tools to support the labor market and the economy and we can use them until we fully recover.”Years-long fightlast_img read more


first_imgUtley will file an appeal today and a decision could come before gametime. One would certainly hope so. If not, Utley will be introduced on the baseline before Game 3, amid 44,000-plus pitchforks. And he probably will be seen in the batter’s box, too. What fun.Before the suspension, Don Mattingly said Utley had a good shot at getting into the lineup. He has a .333 average in 24 plate apperances against Matt Harvey, the Mets starter.Harvey also spoke Sunday. “As far as sticking up for my teammates, going out there and doing what’s right is exactly what I’m going to do,” he said.One can reasonably interpret that as a warning for Utley to wear very light shoes in the batter’s box, in either Game 3 or a possible Game 5, although Harvey would be more eloquent if he postponed the retribution and pitched nine incident-free innings.One can also assume that several Mets will make sure they slide enthusiastically into second base. @MWhicker03LANG on TwitterChase Utley plays it like hockey. No bro-hugs, no chitchat. No higher compliment.Baseball could use much more of that. But when something illegal, damaging and malicious happens in hockey, the punishment is decisive and the explanation is sound.On Sunday night, MLB suspended Utley for Games 3-4 of the N.L. Division Series, tonight and Tuesday in Citi Field, after his excessive slide wiped out Mets’ shortstop Ruben Tejada and broke his fibula in Game 2. And that is exactly what should happen. The Mets should file their protest with fastballs and spikes. Utley surely expects it. So do the Dodgers. But baseball won’t stand for it. Harvey will be warned before the game and then ejected if anything comes close to the chin, and the actual competition will be further distorted. Whether Joe Torre weighed Utley’s likely appearance and Harvey’s apparent warning is something only he knows. In the 1973 NLCS, Cincinnati’s Pete Rose was enraged that Mets’ shortstop Bud Harrelson was mocking the Reds’ hitter after a Jon Matlack shutout. He slid hard into second base (not into Harrelson) and then got up and popped up, sparking a brawl that brought whisky bottles from the audience at Shea Stadium. Sparky Anderson pulled the Reds off the field.Those were different days. Security will be U.N.-tight at Citi Field, but then it should always be.Should Utley play in these New York games? Of course not.There’s the argument that baseball is becoming too effete and clubby and Utley is a shining exception to that. That is probably true, except that the “Hal McRae Rule” dictates that you have to be at least somewhat interested in sliding into the base and not just the fielder.In the 1977 ALCS, Kansas City’s McRae ran through the bag to go after the Yankees’ Willie Randolph. Because of that Frank White was able to score and tie a game, just as Kike Hernandez did Saturday, courtesy of Utley. That sparked new legislation, as the Utley-Tejada play probably will.There is the argument that we wouldn’t be even discussing this if Tejada weren’t hurt. Again, probably true. And what’s wrong with that? Hockey’s Department of Player Safety takes injuries into consideration, and also history. The Mets remember that Utley went after Tejada similarly in 2010.Here, the Mets lose their most consequential defender because Utley went over the top.Pirates fans erupted because the Cubs’ Chris Coghlan got no suspension after he plowed into shortstop Jung-Ho Kang and knocked him out for the season, which ended when Chicago beat Pittsburgh in the wild-card game. But Coghlan at least was reaching for the bag with his left hand when he took out Kang’s knee, and actually slid first instead of chop-blocking.Utley disrupted the competitive balance of the series, no matter how unintentionally, and he set into motion a Dodgers victory. Again, if umpire Chris Guccione calls Utley and Howie Kendrick out, as the rules provide, then Kike Hernandez doesn’t score and the Mets lead 2-1 after seven innings.Second baseman Daniel Murphy hung Tejada out to dry with a wayward toss, as Rose correctly pointed out on a studio show. At that point Tejada was a defenseless receiver. Utley could still have hindered Tejada by sliding on time and staying close to a base that he still hasn’t touched.It was not “good old hardball.” It was irresponsible and reckless. But MLB is secretly aglow. It now has its controversy and its storyline: The Guilty v. The Aggrieved.If Utley somehow plays, just make sure the jury stays in the box.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Recent Comments