在经历了2011年下半年的波动以后，美国经济复苏在2012年上半年呈现减速的趋势。尽管通货膨胀和就业形势呈现改善的信号，但是实体经济部门出现了停滞。全球经济增长放缓、欧债危机和美国自身“财政悬崖”的潜在冲击增加了美国经济的不确定性，也抑制了居民和企业的支出，经济增长的下行压力明显。不过，QE3的提前推出为稳定复苏提供了保证。预计2012～2013年，美国经济增长将逐渐向长期潜在增长水平靠拢。
The pace of the U.S. economic recovery appears to slow down in the first half of 2012 after volatized in the second half of 2011. Consumer Price Inflation and unemployment rate were improved, but the recovery of the real economic sector was slowed. A number of factors will likely restrain growth in period ahead, including weak economic growth abroad, European crisis and the incoming fiscal cliff that became less accommodative. Uncertainty about these factors may also restrain household and business spending, poses significant downside risk to the outlook. However, the QE3 will help the U.S. economy grow at only a modest pace in 2012 to 2013, and gradually converging towards its potential growth rate in the long run.
