Monetary tightening slows the economy with a lag.

货币紧缩缓慢地减缓经济发展。

Premature and forceful monetary tightening could choke off a still-fragile recovery.

过早实行有力的货币紧缩可能会阻碍仍然脆弱的经济复苏。

The problem is that monetary tightening has made them still more likely.

问题是，货币紧缩使得存款外流更有可能出现。

The failure of SVB complicates the Fed's path for further monetary tightening.

硅谷银行倒闭使美联储进一步收紧货币政策的道路更加复杂。

A sell-off in bond markets, prompted by monetary tightening in America, this week infected global stock markets, too.

由美国货币紧缩所引起的债券市场跌价，本周也影响到了全球股票市场。

The Fed is entering a trickier phase of monetary tightening.

美联储正在进入一个更棘手的货币紧缩阶段。

It said it was beginning a " monetary tightening process in order to establish the disinflation course as soon as possible" .

土耳其央行表示，该行正在启动“货币紧缩进程，以尽快建立反通货膨胀路线”。

Donald Trump, a critic of the Fed's recent monetary tightening, seized on the remarks, saying they underlined its " faulty thought process" .

批评美联储最近收紧货币政策的特朗普(Donald Trump)利用这番言论做文章，称其凸显出美联储“错误的思维过程”。

The biggest ever co-ordinated global monetary tightening, which began in the late 1970s, provoked a big downturn in the early 1980s.

20 世纪 70 年代末开始的史上最大规模全球协调货币紧缩政策，导致了 80 年代初的经济大衰退。

Fed chair Jay Powell signalled that the US central bank is prepared to slow down the pace of its monetary tightening.

美联储主席杰伊鲍威尔表示， 美国央行准备放慢货币紧缩步伐。

On July 26th policymakers duly fulfilled those expectations, with their 11th increase in 12 meetings, together making for America's sharpest course of monetary tightening in four decades.

7月26日，政策制定者如期实现了这些预期，他们在第12次会议上宣布第11次加息，使之成为美国40年来最严格的货币紧缩进程。

He said there are three factors that have affected China's economy in 2022, including COVID-19 flare-ups, geopolitical tensions and the aggressive monetary tightening of the United States.

他表示，影响2022年中国经济的因素有三个：新冠肺炎疫情的爆发、地缘政治紧张局势以及美国激进的货币紧缩政策。

In that decade, high inflation prompted extreme monetary tightening, which was meted out with enthusiasm by Paul Volcker, chairman of the Federal Reserve.

在那十年里，高通胀引发了极端的货币紧缩，美联储主席保罗沃尔克热情地采取了这种措施。

Many emerging-market currencies have taken a battering since the election in November of Donald Trump raised expectations of faster monetary tightening in America and sent the dollar soaring.

由于特朗普去年11月份当选美国总统提振了收紧美国货币政策和美元走强的预期，许多新兴市场的货币遭受重创。

Either way, it puts the Fed on track for the steepest monetary tightening in a calendar year since 1981, when Paul Volcker was at the central bank's helm.

无论是哪种情况，这都将使美联储走上自1981年保罗·沃尔克执掌美联储以来最大幅度货币紧缩的轨道。

The pessimism in financial markets is easily understood: persistently high inflation is forcing the Federal Reserve to press on with aggressive monetary tightening, even at the potential cost of a recession.

居高不下的通胀正迫使美联储继续实施激进的货币紧缩政策，甚至不惜付出经济衰退的潜在代价。

At the end of last year, when many expected a European downturn, monetary tightening had yet to hit the economy and national governments offered generous handouts in order to counteract the energy shock.

去年年底，当许多人预计欧洲经济将陷入低迷时，货币紧缩政策尚未打击到经济，各国政府提供了慷慨的救济，以抵消能源方面的冲击。

Meanwhile, the aggressive monetary tightening of the past year is only now filtering through to the economy, complicating assessments of whether the Fed has in fact done enough to rein in prices.

与此同时，过去一年大刀阔斧的货币紧缩直到现在才开始渗透到经济中，这导致针对美联储是否真的采取了足够的措施控制物价的评估变得复杂。

Although cheap borrowing has fuelled the growth of corporate profits for decades, the biggest firms have been largely insulated from the effects of the Federal Reserve's recent bout of monetary tightening.

尽管几十年来廉价借贷推动了企业利润的增长，但最大的企业基本上没有受到美联储最近一轮货币紧缩政策的影响。

On the left, the worried man laments that excessive monetary tightening is increasing the risk of a recession; to the right, the Fed representative retorts " Haha money vacuum go brrr" , while hoovering up dollars.

图片左边，那位忧心忡忡的人哀叹，过度的货币紧缩正在增加经济衰退的风险；右边，代表美联储的人一边吸走美元，一边回嘴：“哈哈，吸钞器开动。”