Thirty Years Ago, Many Economists Argued That

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.

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.

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.

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

The More Competitive Value Of The Dollar Turned Around The Trade Deficit.