Unfortunately, it is extremely tricky to isolate the impact of changes in fiscal policy.

不幸的是孤立财政政策变化的影响是极端棘手的。

youdao

Europe's problems, he said, are underpinned by a weakened global economy, especially in the U.S., compounded by a lack of confidence in fiscal policy actions in developed countries.

他说，欧洲的问题由脆弱的全球经济支撑，尤其是美国，再加上对发达国家财政政策缺乏信心，形势更加复杂。

youdao

While the bank's exercise does not seem to have done much to ease the pressure on Greek or Irish sovereign debt, it has left the ECB deeply entrenched in fiscal policy and undermined its independence.

如果央行的做法不能缓解希腊或爱尔兰的主权危机的压力时，它就在财政政策方面把欧洲央行卷入其中，严重削弱了其独立性。

youdao

Moreover, the Fed has used its discretion to allocate credit and engage in fiscal policy.

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This would both reduce the lags in fiscal policy and insulate it from political pressure.

ECONOMIST: Fiscal flexibility | The

Nor is monetary policy improved by engaging in fiscal policy and the allocation of credit.

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