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you can do that with whisper https://github.com/openai/whisper even there is fast whisper runs like a charm on my old 2012 imac on cpu https://github.com/FamousDirector/FastWhisper

Extra fun to make a loop English -> Foreign language -> English -> ...

Whisper is capable to perform real-time translation?

Only from some other languages into English, not from English into other languages.

Also, it doesn't do speech synthesis (i.e. text to voice).

So, mostly no.