Frederic Mishkin: Strong Dollar Will Damage US Economy

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Frederic Mishkin: Strong Dollar Will Damage US Economy

Intelligence Squared US Debates - Kaufman Center

It's often taken for granted that America needs a strong dollar. When the value of the US dollar is strong relative to other currencies, it becomes attractive to investors and allows Americans to buy foreign goods and services cheaply. But in times of recession, are we better off with a weak dollar that stimulates US manufacturing by making our goods cheaper and more competitive? Or will the loss of purchasing power and currency manipulation abroad, offset the potential gains?
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