Does this report put any concerns about a near term recession completely off the table.

這份報告是否將任何對近期經濟衰退的擔憂完全拋在腦後。

What we're seeing right now is solid growth this quarter.

我們現在看到的是本季度的穩固增長。

Um Growth has obviously slowed um following a very rapid recovery from high unemployment.

在從高失業率中迅速恢復之後，增長顯然已經放緩。

Uh We're in a full employment economy, it's very natural that growth would slow and it has over the first three quarters of this year, but it continues to be um okay, we have a very strong labor market.

呃，我們處於一個充分就業的經濟中，增長放緩是非常自然的，而且在今年的前三個季度已經放緩，但它繼續是嗯好的，我們有一個非常強大的勞動力市場。

I don't see signs of recession in this economy at this point, the President the other day told reporters, the economy is quote strong as hell.

我沒有看到目前這個經濟有衰退的跡象，總統前幾天告訴記者，經濟的報價強得不得了。

I don't think that's a technical term from an economic basis.

我不認為這是一個來自經濟基礎的技術術語。

But do you agree with that assessment in terms of the strength?

但就實力而言，你是否同意這種評估？

Well, I really do.

嗯，我真的很想。

And if you look around the world, there are a lot of economies that are really suffering um not only from high inflation but um very weak economic performance.

如果你環顧世界，有很多經濟體確實在遭受嗯，不僅是高通脹，而且嗯經濟表現非常疲軟。

And the United States stands out, I think we are about the strongest country I know of around the globe.

而美國脫穎而出，我認為我們是我所知道的全球最強大的國家。

Um we have unemployment at a 50 year low.

嗯，我們的失業率達到了50年來的最低水平。

There are two job vacancies for every um American who's looking for work.

每一個正在尋找工作的美國人都有兩個職位空缺。

Um we have, we saw in this morning's report, consumer spending and investment spending continued to grow.

嗯，我們有，我們在今天早上的報告中看到，消費支出和投資支出繼續增長。

Um We have solid household finances, business finances banks that are well capitalized.

嗯，我們有堅實的家庭財務，商業財務的銀行，資本充足。

Um And we've been creating average 300,000 jobs a month.

我們平均每月創造30萬個就業機會。

This is not an economy that is in recession and we continue to do well what's striking is you have a you list off all of those kind of critical elements of the current economy and yet, and I know you know this quite well.

這不是一個處於衰退中的經濟，我們繼續做得很好，引人注目的是你有一個你列出了當前經濟的所有這些關鍵因素，然而，我知道你很清楚這一點。

The anxiety right now, when you look through surveys of americans is very real, the discontent seems to be very real.

現在的焦慮，當你通過對美國人的調查來看是非常真實的，不滿情緒似乎是非常真實的。

The feelings about the direction of the economy seems to be largely negative.

人們對經濟方向的感受似乎主要是負面的。

Why inflation is very high.

為什麼通貨膨脹率非常高。

It's unacceptably high.

這是不可接受的高。

And americans feel that every day, um they drive past gas stations and they see prices that are a lot higher, even though they have come down significantly, they're a lot higher than americans are comfortable with.

美國人每天都感覺到，嗯，他們開車經過加油站，看到價格高了很多，儘管價格已經大幅下降，但還是比美國人所能接受的高了很多。

They see the cost of food rising and generally inflation has been high and it is president biden and my top economic priority to bring inflation down.

他們看到食品成本上升，一般來說，通貨膨脹率一直很高，把通貨膨脹率降低是拜登總統和我的首要經濟任務。

We look to the Fed um to play the lead role in accomplishing that.

我們期待著美聯儲嗯在完成這一目標方面發揮主導作用。

But what we're doing is supplementing what the Feds doing.

但我們所做的是對聯邦政府所做的事情進行補充。

Um we've had a release of close to 180 million barrels of oil from the Strategic Petroleum Reserve that have um offset adverse global factors.

我們已經從戰略石油儲備中釋放了近1.8億桶石油，抵消了不利的全球因素。

Putin's um irresponsible, horrific war in UK train that are pushing up global energy prices, um a prescription drug uh bill in the inflation reduction act that's lowering drug costs for americans um holding down health care premiums, um trying to address supply bottlenecks in the economy and um it's our top priority to bring inflation down?

普京不負責任的、可怕的英國火車戰爭正在推高全球能源價格，通貨膨脹削減法案中的處方藥法案正在降低美國人的藥物成本，嗯，正在努力解決經濟中的供應瓶頸，嗯，把通貨膨脹率降低是我們的首要任務？

That's what's making americans feel uneasy about the economy.

這就是讓美國人對經濟感到不安的原因。

I talk to people maybe aren't doing as focused on things uh as you may be when it comes to the economy and it feels like it's a different world, right?

我和人們交談時，也許沒有像你那樣專注於事情，當涉及到經濟問題時，感覺這是一個不同的世界，對嗎？

It's just a totally different description of reality right now.

只是現在對現實的描述完全不同。

How do you counter that given the fact that inflation is to some degree, largely out of your control on a day to day basis?

鑑於通貨膨脹在某種程度上在很大程度上不在你每天的控制範圍內，你該如何應對呢？

Well, I guess I would urge americans to understand that we went through a traumatic experience, both health wise and economic wise, with respect to the pandemic and the entire globe has been affected by the economic repercussions of Putin's invasion of Ukraine and americans and people all over the world are suffering for from higher prices, which are eroding their living standards.

好吧，我想我要敦促美國人理解，我們經歷了一次創傷性的經歷，無論是健康方面還是經濟方面，關於大流行病，整個全球都受到了普京入侵烏克蘭的經濟影響，美國人和世界各地的人們正在遭受更高的價格，這正在侵蝕他們的生活水準。

Of course this is a real concern to americans, but this is going to end um the combination of what President biden is doing and what the Federal Reserve is doing will, over the next couple of years lower inflation to levels that people are accustomed to that will make them feel better.

當然，這是美國人真正關心的問題，但這將結束......拜登總統正在做的事情和美聯儲正在做的事情相結合，將在未來幾年內把通貨膨脹降低到人們所習慣的水準，這將使他們感覺更好。

And I believe, I believe there's a path to accomplishing that while maintaining a very healthy labor market and I believe we're on that path.

我相信，我相信有一條道路可以實現這一目標，同時保持一個非常健康的勞動力市場，我相信我們正在這條路上。

I understand you're saying in terms of the time horizon years is not very helpful when there's a midterm election In 12 days?

我理解你的意思是，就時間跨度而言，12天后有一次中期選舉，幾年的時間不是很有幫助？

I know you don't come from a political background here, but how much does that weigh into the policy process that you guys pursue?

我知道你在這裡沒有政治背景，但這對你們追求的政策過程有多大影響？

As I said, we're doing everything that we can to supplement with the Fed is doing to bring inflation down and medium term.

正如我所說，我們正在盡一切努力補充美聯儲正在做的工作，以降低通脹和中期通脹。

Um we have an historic investment in the strength of our economy.

嗯，我們對我們的經濟實力有一個歷史性的投資。

The passage of three very important bills there leading to huge investments in our economy.

在那裡，三個非常重要的法案的通過導致了對我們經濟的巨大投資。

And um over time americans are going to see many positive changes in their lives because of these investments.

而且，隨著時間的推移，美國人將看到他們的生活因為這些投資而發生許多積極變化。

So I'm referring to the infrastructure act that is beginning to repair America's roads, bridges, ports will deal with supply chain bottlenecks and also um my modernize our digital economy.

是以，我指的是基礎設施法案，該法案正在開始修復美國的道路、橋樑、港口將處理供應鏈瓶頸問題，也嗯我的數字經濟現代化。

Every american will see broadband that's universally available and affordable.

每個美國人都將看到普遍可用和負擔得起的寬帶。

We have chips act that is leading to historic investments in semiconductors that will greatly increase supply and create A lot of good jobs.

我們有芯片法案，正在導致對半導體的歷史性投資，這將大大增加供應並創造大量的好工作。

Uh, here in Ohio Intel has announced a $20 billion Ohio, LG and Honda have announced a new face factories that they're setting up um to manufacture batteries for electric vehicles.

呃，在俄亥俄州，英特爾已經宣佈了一個200億美元的俄亥俄州，LG和本田已經宣佈了一個新的面孔工廠，他們正在建立嗯製造電動汽車的電池。

We're seeing historic investments in clean energy.

我們看到對清潔能源的歷史性投資。

Um, because of the inflation reduction act and americans are going to see the benefits of not being dependent as the years go by on um Russia on Saudi Arabia for oil as we transition to clean energy will be reliant on the sun and the wind and freed from geopolitical pressures that create volatility and why oil prices and have safer and more reliable and cheaper energy.

嗯，因為通貨膨脹削減法案，美國人將看到隨著時間的推移，不再依賴俄羅斯和沙特阿拉伯的石油，因為我們過渡到清潔能源，將依靠太陽和風，擺脫地緣政治壓力，創造波動，為什麼油價，擁有更安全、更可靠和更便宜的能源。

You have three critical cornerstone pieces of legislation.

你有三個關鍵的基石性立法。

These are sweeping economic proposals.

這些是全面的經濟建議。

The president got over the finish line, you helped get over the finish line.

總統過了終點線，你幫助過了終點線。

They address a lot of the issues that have been driving inflation or exacerbating inflation um, but they aren't in yet and you kind of stole my notes on Ohio, you can, you can go through the intel plant $20 billion Gm committed a billion dollars in Toledo for solar 200 million in Toledo forward 1.5 billion in Avon Lake.

他們解決了很多推動通貨膨脹或加劇通貨膨脹的問題嗯，但他們還沒有進入，你有點偷了我關於俄亥俄州的筆記，你可以，你可以通過情報廠200億美元Gm承諾在托萊多的太陽能2億在托萊多前進15億在Avon Lake。

The Honda and LG plants are investments you were talking about here.

本田和LG工廠是你在這裡談論的投資。

These are real tangible investments that are happening now and yet.

這些都是真正的有形投資，現在還在發生。

It doesn't, I don't get the sense that it's translated immediately or directly.

它沒有，我沒有得到它被立即或直接翻譯的感覺。

People need to be more patient or what's, what's the disconnect there when you kind of look into the macro economy.

人們需要有更多的耐心，或者當你看向宏觀經濟時，有什麼不相干的地方。

Well those investments do take time to pay off but people should see that thousands and thousands of new jobs, good jobs, high paying jobs are being created.

好吧，這些投資確實需要時間來回報，但人們應該看到，成千上萬的新工作，好工作，高薪工作正在被創造。

Manufacturing is reviving.

製造業正在復甦。

They should be able to feel and see investments that are going to lead to a revival in growth in parts of the country where there's been um under investment for a long time.

他們應該能夠感受到並看到投資將導致該國部分地區的增長復甦，而這些地區長期以來一直存在嗯投資不足。

We've seen much of the growth in this country, concentrated on the coasts and the kind of investment revival that we're seeing now is going to spread job creation and good jobs throughout this country is the kind of message at this point.

我們已經看到這個國家的大部分增長，集中在沿海地區，而我們現在看到的這種投資復興，將在整個國家傳播創造就業機會和良好的工作機會，這是目前的一種資訊。

To some degree, we've done the work, the patient.

在某種程度上，我們已經做了工作，病人。

It's coming, yes, but we're beginning to see repaired bridges come online, not in every community, but um, pretty soon many communities are going to see roads improved, bridges repaired, that have been falling apart.

它正在到來，是的，但我們開始看到修復的橋樑上線，不是在每個社區，但嗯，很快許多社區將看到道路得到改善，橋樑得到修復，這些都是已經崩潰了。

Um, we're seeing money flow into research and development, which is really an important source of long term strength to the american economy and America's strength is going to increase and we're going to become more competitive economy.

嗯，我們看到資金流入研究和開發，這確實是美國經濟長期力量的重要來源，美國的力量將增加，我們將成為更具競爭力的經濟體。

You mentioned earlier, you're kind of going through the process from when you guys took office to now, in terms of the scale of the economic recover.

你剛才提到，就經濟復甦的規模而言，你算是經歷了從你們上任時到現在的過程。

You often mentioned that there's very little if any historical precedent for the speed uh, in modern history of the economic recovery.

你經常提到，在現代歷史上，經濟復甦的速度呃，幾乎沒有任何歷史先例。

These three cornerstone pieces of legislation, I've talked to officials were very frustrated by the fact they don't feel like they got credit for that period of time that's brought us to now when people are so anxious.

這三項基石性的立法，我與官員們交談過，他們感到非常沮喪，因為他們不覺得他們在那段時間裡得到了功勞，使我們在人們如此焦慮的情況下走到了現在。

You think that's fair that you don't get credit for the work that has been done to get the economy to this point, They're a set of problems that we could have had and difficulties many families, American families could have faced had we not invested so much in the American rescue plan that provided support to the economy and generated um the creation of 10 million jobs in the space of less than two years.

你認為這很公平，你沒有得到為使經濟發展到這一點所做的工作的功勞，它們是一系列問題，如果我們沒有在美國救援計劃中投入如此多的資金，為經濟提供支持並在不到兩年的時間裡創造了1000萬個就業機會，我們可能會遇到這些問題和許多家庭，美國家庭可能會面臨困難。

Um So we have a very strong job market.

嗯，所以我們有一個非常強大的就業市場。

Um So there are a set of problems we could have had, we could be struggling with high unemployment, weak job market.

嗯，所以有一系列的問題，我們可以有，我們可以在高失業率，疲軟的就業市場中掙扎。

Um Many americans could have lost the roof over their heads.

嗯，許多美國人可能會失去他們頭上的屋頂。

Um been unable to put food on the table during the pandemic um businesses that would have failed had it not been for the support that went to restaurants, went to um small businesses across the country.

在大流行期間，他們無法把食物放在桌子上，如果不是對餐館和全國各地的小企業的支持，這些企業可能已經失敗。

Um These are problems we don't have because of what the biden administration has done so um Often one doesn't get credit for problems that don't exist.

這些是我們沒有的問題，因為拜登政府所做的事情，所以嗯，通常一個人不會因為不存在的問題而獲得榮譽。

To prove the counterfactual do you feel when you look back That the speed of the economic recovery, particularly when compared to kind of 2008, to the extent any of those policies contributed to the inflationary pressures at this moment, it was an acceptable trade off to have the other kind of broader strength that exists in the economy right now.

為了證明反事實，當你回顧經濟復甦的速度時，你是否覺得，特別是與2008年相比，在任何這些政策促成此刻的通脹壓力的程度上，擁有現在經濟中存在的其他更廣泛的力量，是一種可以接受的交易。

It certainly is an important plus to have the strength that exists in the economy and most americans when they're quizzed about the labor market.

當經濟和大多數美國人被問及勞動力市場時，擁有存在於經濟中的力量當然是一個重要的加分項。

Do feel very good about the labor market.

確實對勞動力市場感覺非常好。

They should understand that that is a result of President biden's policies.

他們應該明白，那是拜登總統的政策造成的。

Um But look, the inflation that we have um has many factors that are driving it.

但你看，我們有的通貨膨脹，嗯，有許多因素在推動它。

Um The american rescue plan is it most a small part of that.

嗯，美國的救援計劃是它的一小部分。

We've had a set of supply chain problems we've seen globally.

我們已經有了一套我們在全球範圍內看到的供應鏈問題。

Um resulting from the pandemic resulting from shifts in spending dramatic shifts away from services toward goods, the created supply chain problems, a shortage of semiconductors that led to dramatic increases in the price of cars.

由於支出從服務轉向商品，造成了供應鏈問題，半導體的短缺導致了汽車價格的急劇上升，從而導致了大流行。

This is not the result of uh spending that created a strong economy.

這不是呃支出的結果，它創造了一個強大的經濟。

Strong job market and uh Putin's brutal war in Ukraine is pushing up food prices.

強勁的就業市場和呃普京在烏克蘭的殘暴戰爭正在推高食品價格。

It's pushing up energy prices and look around the world.

它正在推高能源價格，看看全世界。

The United States has high inflation unacceptably high inflation.

美國的高通脹率高得令人無法接受。

But so does the U.

但美國也是如此。

K.

K.

So does the euro area.

歐元區也是如此。

So the most advanced economies um they're all grappling with the same thing.

是以，最先進的經濟體嗯，他們都在努力解決同樣的問題。

So um there are many factors contributing to high inflation that we have to address before I let you go and get a busy day here in Ohio.

是以，嗯，有許多因素導致高通脹，我們必須在我讓你走之前解決，在俄亥俄州得到一個忙碌的一天。

Uh The President has kind of framed things in the political sense is a choice in terms of the approach, particularly on the economic side between republicans and democrats.

呃 總統在政治意義上對事情進行了某種框定，是在方法上的選擇，特別是在經濟方面，共和黨人和民主黨人之間的選擇。

He says the policies he's seen from republicans will crash the economy.

他說，他所看到的共和黨人的政策將使經濟崩潰。

Do you think that's an accurate assessment of things?

你認為這是對事情的準確評估嗎？

Well they're talking about cutting back Medicare and Social Security in order to continue the tax cuts for businesses and wealthy individuals that were in the job J.

好吧，他們正在談論削減醫療保險和社會保障，以便繼續為企業和富人減稅，這些都是在就業J。

C.

C.

T.

T.

A.

A.

The the tax act passed by trump and those were unfunded.

特朗普通過的稅收法案，這些都是沒有資金的。

Something that I think is fiscally irresponsible and the benefits of those tax cuts went to the richest corporations and the richest americans.

我認為這在財政上是不負責任的，而且這些減稅的好處都給了最富有的公司和最富有的美國人。

And President biden feels very strongly that he wants a fair tax system in which rich people and companies pay their fair share so that all of the burden doesn't fall on hard working households and that we need fiscal responsibility so that if we're going to engage in spending our tax cuts we make sure they're financed and don't we're not just passing on the costs on to our Children and grandchildren.

貝登總統非常強烈地認為，他希望有一個公平的稅收制度，讓富人和公司支付他們公平的份額，這樣所有的負擔就不會落在辛勤工作的家庭身上，我們需要財政責任，如果我們要從事減稅支出，我們要確保他們有資金，不要我們只是把成本轉嫁給我們的孩子和孫子。

He's also raised because several republicans have raised the issue of using the debt ceiling for leverage.

他之所以提出來，也是因為有幾個共和黨人提出了利用債務上限做籌碼的問題。

You once agreed during a congressional hearing that it should be abolished.

你曾經在一次國會聽證會上同意應該廢除它。

The president said he didn't believe that was responsible when he was asked about it earlier.

總統說，當他早些時候被問及此事時，他不認為那是負責任的。

Is the president wrong in terms of how he views the debt ceiling?

在如何看待債務上限方面，總統是否錯了？

Well look the President and I agree that America should not be held hostage by members of Congress who think it's alright to compromise the credit rating of the United States and to threaten default on uh US.

聽著，總統和我都同意，美國不應該被那些認為損害美國的信用評級和威脅違約的國會議員所挾持。

Treasuries which are the bedrock of global financial markets.

作為全球金融市場基石的國債。

It's something defaulting on on our debt that would be um simply calamitous for the U.

這是對我們的債務違約的事情，對美國來說，嗯，簡直是災難性的。

S.

S.

And that's something that just can't be contemplated.

而這是不能考慮的事情。

And he and I agree it's really up to Congress to raise the debt ceiling.

他和我都同意，提高債務上限真的要靠國會。

It's utterly essential that it be done.

完全有必要這樣做。

And I'd like to see it occur anyway that it can it can occur.

而且我希望看到它的發生，無論如何它可以發生。

And the required question final question for anybody near a midterm election, the word was that you had informed the White House, you'd like to stick around.

而對於任何接近中期選舉的人來說，必要的問題最後的問題是，有消息稱你已經通知白宮，你想堅持下去。

You have no intent of leaving on your own at least as we head into the second half of the President's first term.

至少在我們進入總統第一任期的後半段時，你沒有自己離開的打算。

Is that an accurate read on things right now?

這是對現在的事情的準確解讀嗎？

That is an accurate read.

這是一個準確的解讀。

I feel very excited by the program that we talked about and um I see in it um great strengthening of economic growth and addressing climate change and strengthening american households.

我對我們談到的計劃感到非常興奮，我看到它大大加強了經濟增長和應對氣候變化以及加強美國家庭。

And I want to be part of that.

而我想成為其中的一部分。