Topic: America Doesn't Need a Strong Dollar Policy
Frederic Mishkin, Professor, Columbia Business School
John Taylor, Chairman and Founder, FX Concepts
Steve Forbes, Chairman and Editor-in-Chief, Forbes Media
James Grant, Editor and Founder, Grant's Interest Rate Observer
It's often taken for granted that America needs a strong dollar. When the value of the U.S. 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 U.S. manufacturing by making our goods cheaper and more competitive? Or will the loss of purchasing power and currency manipulation abroad offset the potential gains?