U.S. imports have contributed to the growth of output and employment in many countries around the world.
More Quotes from 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
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
If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth.
Martin Feldstein
Inflation is lower and more stable and the real business cycle fluctuations are more modest.
Martin Feldstein
My theme this evening is that America needs a competitive dollar.
Martin Feldstein
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