When economic growth drives asset prices, stocks and bonds diverge.

当推动资产价格的是经济增长时，股票和债券就会出现分化。

The Fed has long denied that it targets asset prices in setting monetary policy.

长期以来，美联储一直否认其在制定货币政策时有意影响资产价格。

When excessive optimism is built into asset prices, wasteful investment often follows.

当对资产价格过于乐观时，紧随其后的通常是投资浪费。

Financial regulators say that decline is due to fluctuations in foreign exchange rates and asset prices.

金融监管机构表示，这种下降是由于外汇汇率和资产价格的波动。

After all, asset prices ought only to move in response to new information (future cash flows, for instance).

毕竟，资产价格应该只会随着新信息(例如未来现金流)而变动。

Although warranted from an economic perspective, it was inevitable that low interest rates would drive asset prices higher.

尽管该政策的目的是为了拉动经济，但低利率不可避免地会拉升固定资产价格。

Yet those who are still building up their wealth will benefit from lower asset prices. Take housing, for instance.

但那些仍在累积财富的人将从更低的资产价格中获益。以住房为例。

For those looking to build their stockholdings through recessions and recoveries, falling asset prices are good news.

对于那些指望通过经济衰退和恢复持股的人来说，资产价格下跌是个好消息。

In practice, knock-on effects on asset prices that might seem obvious at first can often be argued both ways.

在实践中，对资产价格的连锁反应可能第一眼看上去很明显，但往往可以从两个方向进行论证。

During that time, it has pumped vast quantities of money into Japan's economy, boosting asset prices, and the stock market.

在此期间，该党向日本经济注入了大量资金，推高了资产价格和股市。

As the Federal Reserve has tightened policy, asset prices have plunged.

随着美联储收紧政策，资产价格暴跌。

Seasoned investors complain that computers can distort asset prices, as lots of algorithms chase securities with a given characteristic and then suddenly ditch them.

经验丰富的投资者抱怨说，电脑可以扭曲资产价格，因为许多算法追逐具有特定特征的证券，然后突然抛弃它们。

In 2022, the Fed tested for massive unemployment, a collapse in asset prices, plummeting GDP.

2022 年，美联储测试了大规模失业、资产价格暴跌和 GDP 暴跌。

And a 2012 IMF working paper suggests that reining in inflation can increase income inequality by compressing wages while allowing asset prices to soar.

一份2012年的国际货币基金组织的工作报告称, 抑制通胀会扩大收入差距, 因为它一方面抑制工资上涨, 另一方面又允许资产价格上升。

Over the government directed its assistance towards poorer Americans, the ultra-rich reaped far greater rewards, thanks in large part to soaring asset prices.

政府的援助对象是较贫穷的美国人，但超级富豪获得的回报要大得多，这在很大程度上要归功于飙升的资产价格。

Energy was the big winner, followed by financials (buoyed by optimism and rising asset prices), tech and real estate.

能源是大赢家，其次是金融（受到乐观情绪和资产价格上涨的提振）、科技和房地产。

The financial system could also be exposed to any wider economic damage caused by climate change, say if it triggered swings in asset prices.

如果气候变化引发资产价格波动，金融体系也可能受到气候变化造成的更广泛的经济损害。

And perhaps when it comes to companies that are more exposed to, say, you know, fluctuations in property prices, asset prices, raw material prices, that may take a while longer to filter through.

也许涉及到更容易受到房地产价格、资产价格、原材料价格波动影响的公司时，可能需要一段时间影响才能渗透。

But a really rip-roaring economy could test the FED's patience, particularly if a yawning current account deficit and soaring asset prices cause it to worry about a build-up of financial risk.

但是，一个真正蓬勃发展的经济可能会考验美联储的耐心，尤其是，不断扩大的经常账户赤字和不断飙升的资产价格会使其担心金融风险的累积。

You might indeed have identified that a political development-a snap election in Britain, a president haemorrhaging support in America, a poll suggesting France's parliament might fall to the far right-is likely to affect asset prices.

你可能确实已经发现，一项政治事态的发展——英国的提前选举、美国总统支持率的大幅下降、显示法国议会可能落入极右翼手中的民意调查——可能会影响资产价格。