12日，美联储宣布从明年1月份开始，每月再额外购买450亿美元美国国债，扩大其资产购买计划规模至每月850亿美元。在不少投资者眼中，这意味着他们期待已久的第四轮量化宽松政策（QE4）终于如愿推出。

12,The federal reserve announced that from next January start,An extra $45 billion a month to buy us treasuries,Enlarge its asset purchase plan scale to $85 billion a month.In many investors eyes,This means that they are looking forward to already a long time of the fourth quantitative easing policy(QE4)Finally get out of.

　　然而，美联储主席伯南克的一席话却又令投资者陷入焦虑。他表示，美联储对美国经济起到的协助有限。分析人士认为，该措辞暗示美联储已经濒临无政策可用的境地。而财政悬崖则成为导致美国经济捉襟见肘的巨大威胁。

however,Federal reserve chairman Ben bernanke's words were yet to investors in anxiety.He said,The fed on the U.S. economy have help limited.Analysts believe that,This phrase suggests that the fed is on the verge of no policy available position.And fiscal cliff in the United States is a huge threat to rebuilding the economy.

　　受一好一坏消息影响，国际黄金价格前后如坐“过山车”，暴涨暴跌。此外，13日欧洲股市主要股指普遍走低。

Be a good one bad news influence,The international gold price as sit before and after"Roller coaster",Rises and falls.In addition,13 major European stock markets index generally low.

美联储如期推QE4 The federal reserve QE4 push on

　　12日，美联储宣布，除了额外购买国债，还将继续每月购买400亿美元的抵押贷款支持证券。美联储当前实施的“扭曲操作”将在本月末到期，该操作将大约450亿美元的短期国债置换为相同金额的长期国债。

12,The federal reserve announced,In addition to purchase additional Treasury bonds,Will continue to buy $40 billion a month mortgage-backed securities.The current implementation of the federal reserve"Distortion operation"Will be in expires at the end of the month,This operation will be about $45 billion t-bills replacement for the same amount of long-term bonds.

　　然而，美联储主席伯南克当日却警告称，如果跌入所谓的财政悬崖，将破坏美国经济的逐步复苏进程。他敦促政界人士解决问题。

however,Federal reserve chairman Ben bernanke has warned that day,If fall into the so-called fiscal cliff,Will destroy the American economy is gradually recovery process.He urged politicians to solve the problem.

　　从伯南克的讲话中，人们还感受到了一种寒意：美联储的政策已经捉襟见肘。“我们过去几年已经采用了许多创新的举措，我们总可能有新的办法提振经济。”他表示，“但由于利率已经接近零，美联储资产负债表已经很庞大，进一步提供支持的能力并非无所限制。”

From Ben bernanke speech,People also felt a chill:The fed's policy has broke."Over the past few years we have adopted many innovative measures,We always there may be a new way to boost the economy."He said,"But as a result of interest rate is close to zero,The balance sheet is very large,To provide further support ability is not without limits."

　　有分析师认为，扭曲操作让央行的资产负债情况基本不变，不过新公布的购买计划将促使美联储的持仓规模扩大。

Analysts believe that,Distortion operation to the central bank's assets and liabilities situation basically unchanged,But the new purchase plan will be released to the fed's position scale.

　　财政悬崖掣肘宽松 Financial constraints cliff loose

　　这是美联储今年的最后一次政策会议，当货币首脑们为未来的政策讨论得热火朝天，国会议员与奥巴马政府却仍在继续一场艰难的协商，希望避开6000多亿美元的自动减支与加税措施，这些措施可能有拖累美国经济陷入衰退的风险。

This is the federal reserve this year's last policy meeting,When the currency leaders for future policy discussion in full swing,Congress and the Obama government has continued a tough negotiation,Hope to avoid more than $6000 of automatic in order and add tax measures,These measures may have dragged down the risk of recession.

　　参议院多数党领袖、内华达州民主党人里德12日在参议院大厅表示，他对预算会谈缺乏进展感到“非常、非常失望”。他说，共和党人要么同意上调最高收入群体的税率，“要么我们就从财政悬崖上掉下去。”奥巴马的预算方案“主要是加税，”众议院议长博纳当日则表示，“我们之间存在严重分歧。”

The senate majority leader/Nevada democrat reed 12 in the senate hall said,He felt the lack of progress in talks on budget"very/Very disappointed".He said,Republicans or agree to increase the highest rate of income group,"Or we can fall from the cliff."Obama's budget plan"Mainly is the tax increase,"The speaker of the house, said the course,"We have serious differences between."

　　美国财政部12日公布的数据显示，该国11月份预算赤字扩大至1721亿美元，较去年同期高出25%。美国赤字曾在2009年达到创纪录的1.42万亿美元。

The Treasury 12 figures showed,The country's budget deficit widened in November to $172.1 billion,25% higher than the same period last year.The us deficit in 2009 was a record $1.42 trillion.

　　金融市场惊心动魄 Financial markets heartquake

　　在12日美联储的政策被宣布后，纽约黄金期货价格一度大涨，曾突破每盎司1720美元关口，触及11月30日以来最高位，美元则显著下跌。但伯南克的讲话令这种涨势出现小幅回落。截至12日收盘，纽约黄金期货价格小幅上扬0.5%。而当日美国股市则几乎以平盘报收。

In the 12 the fed's policy after was announced,New York gold futures prices rose at one time,Had $1720 a Troy ounce gates,Touch on November 30 a highest since,The dollar fell significantly.But Mr Bernanke's speech to the rise in down slightly.By 12 closing,New York gold futures prices to rise slightly by 0.5%.And on that day, the us stock market by almost flat at.

　　13日亚洲交易时段一开盘，纽约黄金及原油期货便出现大跌。北京时间13日19时25分，纽约黄金期货报每盎司1693.10美元，跌幅1.44%；纽约原油期货价格则报每桶86.15美元，跌幅0.72%。同一时间段，欧洲股市主要股指普遍走低，其中，英国、德国及法国股市跌幅在0.1%至0.4%不等。同期美元指数则上扬0.2%。

13 Asian trading hours a opening,New York gold and crude oil futures will have plunged.Beijing time 13, when the 25 points,New York gold futures quote us $1693.10 per ounce,Or 1.44%;New York crude oil futures prices for the $86.15 a barrel,Or 0.72%.The same time,European stock markets main stock index generally low,the,British/Germany and France in the stock market decline range 0.1% to 0.4%.Over the same period, the dollar index rose 0.2%.

　　“交易员们一直在美联储的部分评论方面挑刺，”Wedbush证券公司的股票交易董事总经理马克尔·詹姆斯表示，“没有什么重大利空，这只是在过去两天上涨后一个小小的卖出理由。市场目前非常脆弱，本周会出现较大波动。”

"Traders have been fed part comments on nagging,"Wedbush securities company's stock trading markel James said managing director,"No significant bad,It's just in the past two days after rising a little reason to sell.The market is very fragile,This week will appear larger fluctuation."