加密市场像暴风雨一样移动，如今，这是一个戏剧性下降的故事，并短暂地充满希望。

Ether（Eth）继续向下螺旋，随着投资者为自己的动荡而振作起来，再损失了7％。

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

Ether（ETH）继续流血，随着阴暗的市场情绪盛行，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.

全球第二大加密货币在周四进一步滑行，这是周三的损失，这使它低于1,500美元。发稿时，ETH的交易约为1,400美元，在过去的24小时中，它的价格低至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.

随着加密货币市场在狂暴的时期导航，乐观的宏观经济新闻可能会短暂供应。美国股票的令人失望的转变，尤其是与Tech Titan Nvidia（NASDAQ：NVDA）无法满足投资者期望的情况，人们的热情抑制了热情。

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，纽约美联储阐明了前特朗普对中国进口的最新关税的更广泛影响。在一个令人惊讶的启示中，该机构的经济学家估计，这些关税在加油通货膨胀方面可能比以前所承认的更大。

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.

这些关税于2018年征收，是前总统减少美国与中国贸易赤字的战略的一部分。但是，这一举动最终导致了美国消费者和企业的价格上涨，从而影响了从食品和汽油到机械和家具的一切。

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.

根据纽约美联储的分析，中国进口商的关税每年对美国消费者价格指数（CPI）通货膨胀率的贡献约为0.4个百分点。考虑到美联储的首选通货膨胀措施，核心个人消费支出价格指数，每年以3.8％的速度上涨，这一发现很重要。

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，关税对低收入家庭的影响更加明显，众所周知，他们将其收入的很大比例用于食品和其他消费品。

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.

尽管关税是2018年和2019年的热门话题，但它们对通货膨胀的贡献一直是经济学家辩论的主题。一些经济学家认为，关税对通货膨胀的影响很小，而另一些经济学家则认为他们可能每年贡献约0.1个百分点。

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，纽约美联储的分析使用详细的宏观经济模型来评估美国与中国贸易政策的广泛经济影响，这表明关税对通货膨胀的贡献可能接近每年的0.3至0.5个百分点。

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.

该分析考虑了各种因素，包括进口价格向消费者价格的传递，汇率的作用以及关税的更广泛的宏观经济影响。

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.

分析还发现，关税导致美国产出和就业的减少幅度很小，对中国经济的负面影响略大。

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.

总体而言，纽约美联储的调查结果表明，前特朗普征收的关税在加油通货膨胀方面发挥了更大的作用，并且对产出和就业的影响比以前的估计更大。