But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988.
More Quotes from Martin Feldstein:
And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.Martin Feldstein
First, I think the science of monetary economics has clearly gotten better.
Martin Feldstein
In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth.
Martin Feldstein
The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.
Martin Feldstein
Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.
Martin Feldstein
Why has this improvement in inflation and in the business cycle occurred I think the answer is better monetary policy, better central banking.
Martin Feldstein
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