[lbo-talk] currency

Doug Henwood dhenwood at panix.com
Fri Oct 10 13:55:44 PDT 2003


C. G. Estabrook wrote:


>So the current account deficit is less than it's been in months and the
>fed thinks that "sustainable recovery" is underway. Is this primarily a
>result of the USG's allowing the dollar to fall against the euro, yen, and
>rmb?

Probably not - the main sources of the trade deficit are countries whose currencies are pegged to the dollar. The main reasons for the economic pickup are tax cuts and loose money.

Doug



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