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"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."
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"Since we took office, inflation, the fiscal deficit and the balance of payments current account deficit have all fallen. GDP growth, foreign exchange reserves, stock market valuations, and investor confidence have all increased. This success is the result of a series of well thought out policies."
"Market economy favors the have against the have not."
"But economic recovery must be earned. And it will be earned by entrepreneurs and it will be earned by small businesses."
"Economics is extremely useful as a form of employment for economists."
"My first priority is growing this economy in the long term, and stimulating it in the short term."
"Our growing, robust economy is able to provide the average American citizen access to the best social program there is - a steady job."
"The ways by which you may get your money almost without exception lead downward. To have done anything by which you earn money 'merely' is to be truly idle or worse. If the labourer gets no more than the wages which his employer pays him, he is cheated, he cheats himself.. If I should sell both my forenoons and afternoons to society, as most appear to do, I am sure that for me there would be nothing left worth living for.. You must get your living by loving."
Explore more quotes by Martin Feldstein
"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."
"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."
"Increased government spending can provide a temporary stimulus to demand and output but in the longer run higher levels of government spending crowd out private investment or require higher taxes that weaken growth by reducing incentives to save, invest, innovate, and work."
"To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world."
"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."
"A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output."
"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."
"The price of imported oil in the US doubled between summer 2003 and summer 2005, reducing consumers' purchasing power by more than 1 per cent of gross domestic product."
"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."
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