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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (11585)	1/10/2003 9:58:36 PM
From: stockman_scott	Read Replies (1) of 89467

Dollar falls out of step with economy By Christopher Swann The Financial Times Published: January 10 2003 4:00 Ever since the administration of President Bill Clinton, US officials have believed that strong economic growth would lead naturally to a strong dollar. Their faith is now being put to the test. This week the dollar hit its lowest level against the euro since November 1999. The US currency's 10 per cent trade-weighted fall in 2002 was its biggest since 1987. This was despite the fact that the US outpaced all other large economies in 2002, growing an estimated 2.4 per cent compared with just 0.8 per cent in the eurozone and a fall of 0.3 per cent in Japan. If forecasters are right, this combination of relatively strong US growth and a weak dollar will be continued in 2003. This raises the question of why the bold efforts of US policymakers to sustain growth - including the latest $674bn fiscal package - are not supporting the dollar. Some economists are pointing out that ... news.ft.com

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