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.
More Quotes from Martin Feldstein:
Even if the dollar does decline during the coming months, the delays in the response of exports and imports to the more competitive dollar will mean that the increase in aggregate demand from this source may not happen for a year or more.Martin Feldstein
With sound monetary policy, the increases in import prices are offset by lower inflation for domestically produced goods and services.
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
To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.
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
Today's macroeconomic problems require attention to more fundamental forces of individual incentives and institutional rigidities.
Martin Feldstein
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