加密市場像暴風雨一樣移動，如今，這是一個戲劇性下降的故事，並短暫地充滿希望。

Ether（Eth）繼續向下螺旋，隨著投資者為自己的動盪而振作起來，再損失了7％。

Ether (ETH) continues to bleed, shedding another 7% as gloomy market mood prevails.

Ether（ETH）繼續流血，隨著陰暗的市場情緒盛行，再降低了7％。

The world’s second-largest cryptocurrency slid further on Thursday, building on Wednesday’s losses that saw it fall below $1,500. At press time, ETH is trading around $1,400 and in the past 24 hours, it has slid to as low as $1,360.

全球第二大加密貨幣在周四進一步滑行，這是周三的損失，這使它低於1,500美元。發稿時，ETH的交易約為1,400美元，在過去的24小時中，它的價格低至1,360美元。

As the cryptocurrency market navigates a tempestuous period, upbeat macroeconomic news might be in short supply. A disappointing turn in U.S. equities, particularly with tech titan Nvidia (NASDAQ:NVDA) unable to meet investor expectations, has dampened enthusiasm.

隨著加密貨幣市場在狂暴的時期導航，樂觀的宏觀經濟新聞可能會短暫供應。美國股票的令人失望的轉變，尤其是與Tech Titan Nvidia（NASDAQ：NVDA）無法滿足投資者期望的情況，人們的熱情抑制了熱情。

Notably, the New York Fed has shed light on the broader impacts of recent tariffs imposed by ex-President Trump on Chinese imports. In a surprising revelation, economists at the institution have estimated that these tariffs might have had a greater role in fueling inflation than previously acknowledged.

值得注意的是，紐約美聯儲闡明了前特朗普對中國進口的最新關稅的更廣泛影響。在一個令人驚訝的啟示中，該機構的經濟學家估計，這些關稅在加油通貨膨脹方面可能比以前所承認的更大。

These tariffs, imposed in 2018, were part of the former president’s strategy to reduce the U.S. trade deficit with China. However, this move ultimately led to increased prices for American consumers and businesses, impacting everything from food and gasoline to machinery and furniture.

這些關稅於2018年徵收，是前總統減少美國與中國貿易赤字的戰略的一部分。但是，這一舉動最終導致了美國消費者和企業的價格上漲，從而影響了從食品和汽油到機械和家具的一切。

According to the New York Fed’s analysis, tariffs on Chinese imports contributed around 0.4 percentage points to the U.S. consumer price index (CPI) inflation rate each year. This finding is significant considering that the Federal Reserve’s preferred inflation measure, the core personal consumption expenditures price index, rose at an annual rate of 3.8% in April.

根據紐約美聯儲的分析，中國進口商的關稅每年對美國消費者價格指數（CPI）通貨膨脹率的貢獻約為0.4個百分點。考慮到美聯儲的首選通貨膨脹措施，核心個人消費支出價格指數，每年以3.8％的速度上漲，這一發現很重要。

Moreover, the analysis indicates that the tariffs had a more pronounced impact on lower-income households, who are known to spend a larger proportion of their income on food and other consumer goods.

此外，分析表明，關稅對低收入家庭的影響更加明顯，眾所周知，他們將其收入的很大比例用於食品和其他消費品。

Despite the tariffs being a hot topic in 2018 and 2019, their contribution to inflation has been a subject of debate among economists. Some economists believe that the tariffs had a minimal impact on inflation, while others believe they might have contributed to around 0.1 percentage points per year.

儘管關稅是2018年和2019年的熱門話題，但它們對通貨膨脹的貢獻一直是經濟學家辯論的主題。一些經濟學家認為，關稅對通貨膨脹的影響很小，而另一些經濟學家則認為他們可能每年貢獻約0.1個百分點。

However, the New York Fed’s analysis, which used a detailed macroeconomic model to assess the broader economic implications of U.S. trade policy with China, suggests that the tariffs’ contribution to inflation might be closer to 0.3 to 0.5 percentage points annually.

但是，紐約美聯儲的分析使用詳細的宏觀經濟模型來評估美國與中國貿易政策的廣泛經濟影響，這表明關稅對通貨膨脹的貢獻可能接近每年的0.3至0.5個百分點。

This analysis takes into account various factors, including the passthrough of import prices to consumer prices, the role of exchange rates, and the broader macroeconomic implications of tariffs.

該分析考慮了各種因素，包括進口價格向消費者價格的傳遞，匯率的作用以及關稅的更廣泛的宏觀經濟影響。

The analysis also found that the tariffs led to a small reduction in U.S. output and employment, and had a slightly larger negative impact on the Chinese economy.

分析還發現，關稅導緻美國產出和就業的減少幅度很小，對中國經濟的負面影響略大。

Overall, the New York Fed’s findings suggest that the tariffs imposed by ex-President Trump had a greater role in fueling inflation and had a smaller impact on output and employment than previous estimates.

總體而言，紐約美聯儲的調查結果表明，前特朗普徵收的關稅在加油通貨膨脹方面發揮了更大的作用，並且對產出和就業的影響比以前的估計更大。