[填空题]
In this section, you will hear a passage which will be read only once. You are required to fill in the blanks with the exact words you have just heard. Remember to write the answers on the answer sheet.

Central bank independence has to do with monetary policy’s effects in the shot run and the long run. In the short run, an " {{U}} (21) {{/U}} " monetary policy can stimulate the economy to grow faster and to lower the {{U}} (22) {{/U}} rate. In the long run, output and unemployment depend on real factors such as population growth and improvements in technology, and {{U}} (23) {{/U}}.
One way to insulate monetary policy from day-to-day political {{U}} (24) {{/U}} is to give the central bank greater independence. In this respect, the Federal Reserve or Fed ranks toward the top among the world’s central banks.
First, the Governors on the Board are appointed to {{U}} (25) {{/U}} year terms. They are nominated by the U

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