Martin Feldstein Quotes

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.

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.

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.

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.

Unless The Trade Deficit Shrinks, The Combination Of The Trade Deficit And The Interest And Dividend Payments To Foreigners Will Grow Ever More Rapidly.

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.

First, I Think The Science Of Monetary Economics Has Clearly Gotten Better.

An Increase In The Relative Price Of Products From The Low Wage Manufacturers In Asia And Latin America Will Also Make Those Products Less Attractive To American Consumers.

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.

After All, An Overvalued Dollar Gives Us The Ability To Buy Foreign Goods At Lower Prices. And The Existing Volume Of Exports Brings More Yen And Euros Than They Would If The Dollar Were More Competitive.

But The Primary Reason For Wanting The Dollar To Become More Competitive In The Near Future Is That We May Need An Increase In Exports This Year And In 2007 To Sustain The Economy's Current Pace Of Expansion.

So Just As I Want Pilots On The Planes That I Fly, When It Comes To Monetary Policy, I Want To Think That There Is Someone With Sound Judgement At The Controls.