【单选题】

"The U.S. economy is rapidly deteriorating," says Mr. Grannis. "The odds of a recession are now very high, perhaps by the end of the year. " There are already some signs that important pillars are weakening.Consumer confidence has fallen for the past two months; and the housing sector, which has been buoyant, is starting to sink.Corporate profits are falling.

Some analysts are especially concerned over the sharp fall of commodity prices. They believe it represents the threat of inflation, or falling prices in general. While this may be good for consumers, it could cause a global slowdown. "TheCentralBank will have to act forcefully to arrest the deflationary forces," says Robert LaMorte, chairman ofBehavioralEconomics, a consulting firm in SanDiego.
But others counter that theCentralBank doesn’t need to intervene, and they argue it should wait to see real data before acting. "The fundamentals are better than the stock market reflects," says Peter Kretzmer, an economist at Nationsbanc Montgomery Securities.
The president also tried to do his part to calm the markets, citing the strong job market and balanced budget. "We believe our fundamental economic policy is sound," he saiD、His comments echoed statements by Treasury Secretary in Washington.
Some numbers do continue to reflect a strong economy. On September 11, theConferenceBoard released its index of leading indicators. The index rose 0.4 percent, promoting the business organization to predict that the nation’s output should increase at a moderate pace for the rest of this year. The group sees little risk of recession in the near term.
But what has changed is the global economy. Japan and the rest ofAsia are in recession. The woes are spreading to LatinAmericA、
"I’m convinced that we are going to have a global economic recession," says Sung Won Sohn, chief economist at NorwestCorp. , a Minneapolis-based bank.But, he adds, it’s not certain the U.S. will slide into a period of negative growth. He rates the risk of recession at only 10 to 15 percent. "We will be responding to the world economic situation rather leading it," he says.
Still, Fed watchers don’t think theCentralBank will act to try to save the worlD、"It’s inconceivable the Fed could make much difference inAsia, Russia, or LatinAmerica," says Lyle Gramley, a former Fed governor.
After the last stock market crash, the Federal Revenue acted quickly to provide liquidity to the markets and to lower interest rates.But the economy is in better shape this time. The banking sector is stronger and the financial markets have been able to respond to enormous trading volume.
What is the belief of Treasury SecretaryA．He thinksAmerica’s economic policy is sounD、
B．He shows disapproval aboutAmerica’s economic policy.
C．He’s pessimistic aboutAmerica’s economic policy.
D．He has no confidence inAmerican economy.