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    Question ID:   23206         Current Version: 2
Question: Should an advisor to the Federal Reserve in a bad economy, recommend a strong or weak dollar and why?
Category: Business & Finance > Economics
Keywords: economy, strong/weak dollar
Type: any
Rating:(0 ratings)    Views: 168    Discussions: 0   In Watch Lists: 2  

 
    Answer:

Base on "What are the advantages and disadvantages of strengthening and weakening dollar?", the advisor to the Federal Reserve should recommend a weak dollar in a bad economy. A weak dollar policy has follow advantages:

  • U.S. firms find it easier to sell goods in foreign markets
  • U.S. firms find less competitive pressure to keep prices low
  • More foreign tourists can afford to visit the U.S.
  • U.S. capital markets become more attractive to foreign investors

With more competitive edges for domestic companies, they can sell more goods abroad, earn more profits, and thus creating more domestic jobs. With a higher import price, consumers will also buy more domestically made goods. More foreign tourists means more service income. Those all will help economy recover.

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