It is tempting to write this off as just another cyclical peak.

人们禁不住会认为，这不过是又一个周期性顶点。

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With yesterday's cut, the federal funds rate has fallen from a cyclical peak of 6.5 percent to 2 percent.

随着昨日的降息，美国联邦基金利率已自周期高点6.5%降至2%。

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Growth of 9% now looks more like a cyclical peak than apermanent achievement: bottlenecks throughout the economy mean it cannot gofaster without setting off inflation.

9%的增长速度现在被视为周期性的峰值而非能长久保持的成绩：经济内部处处可见的瓶颈意味着增长速度再高就会有引发通货膨胀的风险。

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At the height of the art market's last cyclical peak, 1988-89, I wrote that Van Gogh's "Irises" was a junk bond.

FORBES: The "Orange Marilyn" and the market

If and when oil exports and trade imbalances next reach a cyclical peak, it may make sense to park surpluses in low-risk assets until the boom subsides.

ECONOMIST: The flows are neither as big nor as scary as they once seemed

The March low last year, in the 2nd cyclical bear market since the 2000 peak, took place 9 years into the secular bear market, and was to a lower low.

FORBES: This Bull Market Could Hit Old 2000 Peak Before Ending