If that doesn’t yield dividends(배당금을 산출하다 – 수익을 만들다)
Let me get something straight / Let me just say for the record that
All I need is for some jerk to catch me carrying this book around and get the wrong idea
I’ll have better things to do than answer people’s stupid questions all day long.
So this book is gonna come in handy(쓸모 있다)
You got kids like me who haven’t hit their growth spurt yet mixed in with the gorillas
I figured I might as well write in this book to pass the time.
You walk into the classroom and just plunk your stuff down on any old desk.
The powers of central banks are in the spotlight.(=at the center of attention)
On MAY 6th 1997, Gordon Brown, freshly(금방) installed(resigned) as(inaugurated) Britain’s chancellor of the exchequer, announced that 문장 – 재무장관 / minister(한국) / secretary(미국)
The bank would be charged with(맡다) meeting an inflation target set by the government.
The bank of England is back(다시) in charge of(맡다) bank regulation
The move was hailed as(높이 평가받다) a political masterstroke.
*To hail a taxi – 손을 흔들다 / *All hail Mr.Han – 만세
The new labour government’s claims(소유권 주장) to economic competence
Long-term borrowing costs(대출 금리) fell sharply.
But joy was not unconfined. / The policy is not without flaws.
Within weeks(불과 몇 주 만에) / Twenty years on(20년이 지난 지금)
Central banks have acquired more tools to go with their extra tasks.
They have also come in for(안 좋은 것의 대상이 되다) louder criticism.
The bank of England was bashed for(쾅 맞다) its assessment of Brexit
A bill(법안, 아직 법x) in Congress(미국에서만, the 안 씀) calls for the Fed’s decisions to be audited(회계감사) / savors, deposit-holders(저축하는 사람), the indebted(빚쟁이), debtors, creditor(채권자)
The case(주장의 큰 덩어리) for central-bank independence is as powerful as it was two decades ago
#He made a case for withdrawing the American troops stationed in Korea.
Interest rates need to be changed well(강조) before they will affect inflation.
Politicians are loth(동사는 loathe) to be pre-emptive(선제적 조치).
A central bank is more likely to act promptly(즉각적으로) to head off(예방하다) inflation.
This trustworthiness(믿음) also affords(주다) it freedom to cut interest rates when recession looms(저 멀리서 서서히 다가오다)
Their power can ebb(썰물) and flow(밀물)
*Lydon Johnson and Richard Nixon were not averse to bullying Fed chairman into keeping interest rates low
Credit(빌린돈), the well-off(잘 사는 사람),
in part because many governments were unable to or unwilling to(능력이 없거나 의지가 없거나) act themselves
They rightly put their resources at risk(=They were right to put their resources at risk)
To counter the bust(망하는 것) that followed took a long period of low interest rates
But the uneven effects of individuals of this newer sort of monetary policy were stark(극명한)
Low rates are a salve(도움이 될 만한 것, recourse) to hit(타격을 주다) deposit-holders
Trade-offs(얻는 것이 있으면 잃는 것도 있다) of this kind are not new.
The task of choosing how many jobs to sacrifice in order to hit(도달하다) an inflation target sooner rather than later(하루빨리) is highly political.
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