無關貨幣政策信號？
The Federal Reserve plans to begin winding down a portfolio of corporate bonds that it purchased last year through an emergency lending facility launched to restore market order at the height of the pandemic.
聯準會計劃開始逐步出售公司債投資組合，去年透過緊急貸款機制購買公司債，這項機制是在疫情最嚴重時為恢復市場秩序而推出。
wind down 放鬆、逐漸減少、逐步停止facility(n.)設備;設施、計畫medical facilities醫療設施
The announcement indicates that the central bank’s first-ever foray into the corporate bond market will come to a close in the coming months.
這項宣布顯示，美國央行首次涉足公司債市場將在未來幾個月結束。
foray(n.)初次嘗試;涉足
“Portfolio sales will be gradual and orderly, and will aim to minimize the potential for any adverse impact on market functioning by taking into account daily liquidity and trading conditions for exchange traded funds and corporate bonds,” said the Fed in a statement.
聯準會在聲明中說：「投資組合的出售將循序漸進，並考量ETF和公司債的每日的流動性和交易條件，將對市場運作造成不利影響的可能性降到最低。」
minimize(v.)使降到最低限度;使減到最少adverse(adj.)不利的;負面的;有害的take…into account考慮;考量exchange traded fund (ETF)指數股票型基金
As of the end of April, the Fed held $8.6 billion in corporate bond ETFs and $5.2 billion of individual corporate bonds.
到4月底為止，聯準會持有86億美元的公司債ETF和52億美元的個別公司債。
The Fed aims to sell all of its corporate bond ETFs and corporate bond holdings by the end of 2021.
聯準會的目標是在2021年底前出售持有的公司債ETF和公司債券。
aim to RV計劃;打算holding(n.)持有的部位;持有的股份holding company控股公司
The move comes as markets are on high alert for any signal the Fed may be ready to start scaling back the huge stimulus it has provided to the economy during the crisis through near-zero interest rates and large-scale asset purchases.
聯準會採取這個舉措之際，市場正高度關注美國央行可能準備開始縮減大規模刺激的任何信號。在危機期間，央行透過接近於零的利率和大規模資產收購，提供經濟刺激措施。
on alert警戒狀態scale back減少;縮減stimulus(n.)刺激措施;促進因素
A Fed spokesman said the portfolio wind-down is unrelated to monetary policy, and it is not a signal about monetary policy.
聯準會發言人表示，縮減投資組合與貨幣政策無關，並不是貨幣政策的信號。
be unrelated to… 與…無關be related to…與…有關
The central bank is separately buying $120 billion a month in government bonds as part of its efforts to support the US economy.
聯準會每個月另外購買1,200億美元的政府債券，來支撐美國經濟。
as part of 作為…一部分
A full debate among policymakers about when to start tapering asset purchases looms large, and some analysts are skeptical of the Fed’s affirmation that there was no connection to that process.
決策官員對於何時開始減少購買資產的全面辯論逐漸浮現，有些分析師對聯準會堅稱與這個過程無關的說法表示懷疑。
taper(v.)逐漸減少;逐漸縮小loom(v.)隱約顯現;不愉快的事情逼近loom large顯得突出;變得嚴重affirmation(n.)斷言;證實;確認=assertion
Bank of America analysts said the corporate bond announcement suggested that the Fed could start to normalize its monetary policy earlier than expected.
美國銀行分析師表示，出售公司債的宣布暗示，聯準會可能比預期更早開始讓貨幣政策恢復常態。
normalize(v.)(使)恢復正常;恢復常態;正常化run its course自然發展，到了盡頭course(n.)球場;跑道a golf course高爾夫球場