From Marketplace Radio, “Is government letting dollar weaken?,” looking at the Obama Administration’s statements versus actions on the dollar’s value, comments from the NAM’s chief economist, Dave Huether:
A more competitive dollar, where a dollar is not overvalued, in combination with a recovering global economy, allows U.S. manufacturers to take advantage of markets overseas and export our products. And it’s important for manufacturers, because about a quarter of what is made in the United States is exported overseas.
The story was done before the late Friday release of the projected federal deficit for 2009 of $1.4 trillion, as The Washington Post put it, “a chasm of red ink unequaled in the postwar era that threatens to complicate the most ambitious goals of the Obama administration.”
See also Pittsburgh Tribune-Review, “Dollar’s slide could help economy get back on its feet.“
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