Martin Feldstein Quotes

• Domestic inflation reflects domestic monetary policy.

  Martin Feldstein

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• The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit.

  Martin Feldstein

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  Tags in Financial, Only

• We pay some price when necessary to bring down inflation but that price is temporary and is not large relative to the permanent gain from reduced inflation.

  Martin Feldstein

• We are particularly poor at the open economy issues

  Martin Feldstein

• Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.

  Martin Feldstein

• To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.

  Martin Feldstein

• Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.

  Martin Feldstein

• The price of imported oil in the US doubled between summer 2003 and summer 2005, reducing consumers’ purchasing power by more than 1 per cent of gross domestic product.

  Martin Feldstein

• The more competitive value of the dollar turned around the trade deficit.

  Martin Feldstein

• The good news is that a competitive dollar in the global market and a strong dollar at home are compatible in both the long run and during the transition to a more competitive dollar.

  Martin Feldstein

• So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls.

  Martin Feldstein

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

  Martin Feldstein

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

  Martin Feldstein

• 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, invest, innovate, and work.

  Martin Feldstein

• 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.

  Martin Feldstein

• 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.

  Martin Feldstein

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

  Martin Feldstein

• 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.

  Martin Feldstein

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

  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.

  Martin Feldstein

Martin Feldstein (29)

Birth:	25th November, 1939
Nationality:	American
Profession:	Economist, Professor

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Today's Anniversary - 22nd December

Births

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• 1889 - B. Carroll Reece
• 1948 - Steve Garvey
• 1831 - Mark Rutherford
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Deaths

• 1987 - Sir Henry Thomas Cotton
• 2001 - Lance Loud
• 1989 - Samuel Beckett
• 1899 - Dwight L. Moody
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