The more competitive value of the dollar turned around the trade deficit.
More Quotes from Martin Feldstein:
But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries.Martin Feldstein
First, I think the science of monetary economics has clearly gotten better.
Martin Feldstein
The good news is that a competitive dollar in the global market and a strong dollar at home are compatible in both the long run and during the transition to a more competitive dollar.
Martin Feldstein
A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output.
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
Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.
Martin Feldstein
Readers Who Like This Quotation Also Like:
Based on Topics: Business & Commerce QuotesWe need to think on a broader plane, we need to do more than we're doing.
Siobhan Davies
Good girls go to heaven, bad girls go everywhere.
Helen Gurley Brown
Our old site did not have very good support for the disabled, but our new site should soon have much better support. With all of our content in divs now, we can hide all but the relevant chunks of content and navigation with a simple alternate CSS file.
Mike Davidson