-$0.53 (-0.57%)
07:52PM (15 mins delay)
Nov 17, 2009 - 9:11 AM EST
Maybe Fed chairman Bernanke’s mention of the level of the dollar was unconventional when he addressed the Economic Club of New York on Monday, but it was very much in line with what treasury secretary Geithner has been saying all along. On the one hand the government understands the fact that the nation and its international fan base benefits when the dollar is potent. On the other hand the cataclysmic events of the past two years have been a real game-changer. In order to address the consequences of those events exceptional measures must be taken in order to create a return to somewhere near what we considered normal. Acceptance of a weaker dollar in the short term as a result of an abandonment of the price of money will be countered in the medium to long term by a return to growth.
Source: Seeking Alpha (Nov 17, 2009 - 9:11 AM EST)
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