By Steven L. Byers, PhD U.S. Senators Tammy Baldwin (D-WI) and Josh Hawley (R-MO) recently introduced a bipartisan bill (Senate Bill S.2357) to realign the US dollar exchange rate to make U.S. exports more competitive, boost American manufacturers and farmers, and reduce our trade deficit. The Competitive Dollar for Jobs and Prosperity Act would manage the U.S…
Article: Strong/misaligned dollar hurts corporate earnings and commodity prices. Me: Exchange rate mgmt to achieve and maintain current account balancing dollar price needed for realignment and economic/jobs growth in real economy. [Ira Iosebashvili | August 18, 2019 | WSJ] The ICE Dollar Index, which tracks the dollar against a basket of six major currencies, stands…
Editor’s note: Secretary Wilbur Ross identifies an important and optimistic economic data point. Worker compensation as a share of company costs has hit the highest level since 2009. There is a significant body of evidence showing that the U.S. economy is strong. The U.S. economy has added millions of jobs, and even long-neglected sectors like…
Editor’s note: Matt Klein of Barrons doubles down in supporting the Baldwin/Hawley market access charge bill that CPA helped generate. In last week’s column I discussed an intriguing idea to have the Federal Reserve move the U.S. current account into balance by levying a “market access charge” on foreign purchases of American assets. Some…
Editor’s note: CPA’s work on the Baldwin/Hawley exchange rate management bill is recognized in the Financial Times. The novelty of an interventionist approach gains cross-party traction on Capitol Hill [Brendan Greeley | August 19, 2019 | Financial Times] Washington is beginning to sidle away from its two-decade consensus in favour of a strong dollar. Donald Trump’s…
