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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.

Quote by Martin Feldstein about salary, americans

And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.

Quote by Martin Feldstein about problems, science, art, magic, good, good luck

And when the dollar decline makes foreign travel much more expensive, I will do more of my vacation traveling in the United States.

Quote by Martin Feldstein about decline

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.

Quote by Martin Feldstein about country

But the primary reason for wanting the dollar to become more competitive in the near future is that we may need an increase in exports this year and in 2007 to sustain the economy's current pace of expansion.

Quote by Martin Feldstein about economy, future, reason, need

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.

Quote by Martin Feldstein about decline, commerce, value, beginning

But, third, science cannot replace judgement because there are too many things that we simply do not understand.

Quote by Martin Feldstein about science, things

Domestic inflation reflects domestic monetary policy.

Quote by Martin Feldstein

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.

Quote by Martin Feldstein about decline

First, I think the science of monetary economics has clearly gotten better.

Quote by Martin Feldstein about science

Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.

Quote by Martin Feldstein about home, time

Household saving fell from 2.5 per cent of after-tax income in the third quarter of 2003 to a remarkable minus 1.8 per cent two years later.

Quote by Martin Feldstein

I think that over the last few decades, we have seen better economic outcomes than in the past.

Quote by Martin Feldstein about past

If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth.

Quote by Martin Feldstein about stability, home

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.

Quote by Martin Feldstein about experience

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,...

Quote by Martin Feldstein about work

Inflation is lower and more stable and the real business cycle fluctuations are more modest.

Quote by Martin Feldstein about affair, real estate

My theme this evening is that America needs a competitive dollar.

Quote by Martin Feldstein

Of course, everything is not perfect. We see high unemployment and low productivity growth, but these are (as previous speakers have emphasized) the result of poor structural policies rather than inappropriate monetary policy.

Quote by Martin Feldstein about perfection

Refinancing allowed households to take out cash to spend on other things while also reducing their monthly mortgage payments.

Quote by Martin Feldstein about things