擴大資產負債表
The Federal Reserve is prepared to expand its balance sheet again in response to a spike in short-term funding costs in September, but reiterated the new program does not mark a change in monetary policy.
聯準會準備再度擴大資產負債表，以因應9月短期資金成本飆升的情況，但重申新計畫並非改變貨幣政策。
balance sheet 資產負債表in response to 因應，回應spike(n.) 飆升，大漲= surgereiterate(v.)重申
The Fed announced that it would begin buying about $60 billion per month in short-term Treasury bills until the second quarter of 2020, thereby injecting cash into the banking system and making it easier to control its benchmark lending rate.
聯準會宣布每個月將購買大約600億美元的美國短期公債，時間到2020年第二季為止，目的是挹注資金到銀行體系，更易控制基準的貸款利率。
Treasury bill 簡稱T-bill 是指美國短天期的公債，期限為一年以下，一般稱為國庫券inject something into someone or something投入，增添benchmark(n.)基準;標竿
The central bank stressed that “these actions are purely technical measures to support the effective implementation” of interest-rate policy and “do not represent a change” in its monetary stance.
美國央行強調，這些行動純粹是技術性措施，以支持利率政策有效執行，不代表改變貨幣政策立場。
stress(v.)強調=emphasizepurely(adv.)純粹是simply(adv.)只不過是;僅僅是implement(v.)implementation(n.)屢行;貫徹
Chairman Jerome Powell previously emphasized that purchases of Treasury securities should not be seen as a resumption of quantitative easing—the crisis-era stimulus programs that the central bank used to lower long-term borrowing costs and boost the economy.
聯準會主席鮑爾先前強調，這次購買美國公債不該視為重啟量化寬鬆政策。在金融海嘯期間，聯準會曾實施量化寬鬆政策，以壓低長期借貸成本，振興經濟。
purchase(n.)(v.)購買;採購securities 證券(股票或債券)resume(v.)resumption(n.)重新開始;恢復quantitative easing 簡稱QE，量化寬鬆政策ease(v.)舒緩，減輕stimulus(n.)刺激，促進
Instead, the central bank is trying to keep money markets in check after recent disruptions in short-term money markets where interest rates for repurchase agreements—essentially short-term loans between banks and other financial institutions—surged in September.
不過，聯準會這次是因為之前短期貨幣市場動盪，9 月附買回交易的利率飆高，故購買公債試圖控制貨幣市場。附買回交易基本上是銀行與其他金融機構之間的短期借貸。
instead(adv.)反而keep something in check 抑制，約束，控制某事money market 貨幣市場是短期資金市場，指融資期限在一年以下的金融市場disruption(n.)中斷，混亂repurchase agreement 簡稱repo，附買回交易
Wall Street is getting worried that recent hiccups in overnight lending are symptoms of bigger problems that will grow worse as the year comes to a close.
華爾街越來越擔心，最近隔夜借貸出問題是更大問題的癥兆，隨著年底將至，問題恐怕會越來越大。
hiccup(n.)打嗝、暫時的小問題symptom 徵兆，徵候
“With year-end coming up, the money-market stress is all likely to get much worse before it gets better,” J.P. Morgan Chase analysts led by Joshua Younger said in a note.
摩根大通分析師楊格等人在報告中寫道：「年關將近，貨幣市場的壓力恐怕只會更大，然後情況才會好轉。」