Weak currencies tend to signal weak economies. Brazil did not want to devalue, it fought off devaluation for a long time. Nonetheless the economic fundamentals forced them to devalue against their wishes.
More Quotes from Brian Wesbury:
By cutting interest rates too far...the Fed is using the monetary equivalent of a corked bat, ... The end result will be more damage from lower rates, more volatility in future interest rates and more confusion about what monetary policy can and cannot do.Brian Wesbury
I think rules are made to be broken and history isn't always a perfect guide. Today the stock market is very undervalued. As I look into the future, the gains of the past few weeks are a precursor to what is going to happen in the future.
Brian Wesbury
Almost every indicator we have says that inflation is going to be less than 1 percent this year. That means that the 5.5 percent Federal Funds rate is too high.
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The Fed is going to have a very difficult decision, and I think a lot will depend on what some other numbers on the economy will do and what the stock market does.
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Those who fear deflation thought they were watching a horror flick this morning when the PPI was reported as falling 1.9 percent in April,
Brian Wesbury
I believe the Fed is holding rates excessively low today -- current monetary policy is inflationary, ... they could scratch out 200 basis points over six months and have minimal effect.
Brian Wesbury
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Based on Topics: Economics Quotes, Time QuotesBased on Keywords: devaluation
Because when you have millions of people with this kind of need for gratification, and the culture is saying that it's possible for everyone to satisfy all of their needs and desires all of the time, there are obviously going to be clashes - clashes of ego.
Taylor Hackford
I was little impressed with this rough and ready way of persuading people to renew their contracts and decided that I was now quite free of any obligations.
Pietro Mascagni
A torn jacket is soon mended; but hard words bruise the heart of a child.
Henry Wadsworth Longfellow