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Politics : Formerly About Applied Materials

AMAT 267.28

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To: zonder who wrote (69925)	4/23/2003 12:25:34 PM
From: runes	Read Replies (2) of 70976

How about the market taking advantage of a distracted administration? Jan 27, 2003 washtimes.com << John W. Snow, President Bush's pick to head the Treasury Department, faces an immediate challenge of how to handle a rapidly tumbling dollar>> << The White House says it has not changed its "strong dollar" policy, but the currency's decline accelerated noticeably last month after the departure of former Treasury Secretary Paul H. O'Neill, who after a rough start two years ago became a strong defender of the dollar.>> .....(My comment - I seem to recalll O'Neill got into trouble initially for comments that suggested that he didn't support the strong dollar) << A softer dollar also helps hard-hit U.S. manufacturers, farmers and other exporters sell more goods overseas. The growth in exports, in turn, fuels growth in the economy and eventually helps to reduce the trade deficit. A weaker dollar also improves the earnings of U.S. corporations that have offices overseas. In the short term, however, a lower dollar raises the cost of imports and causes the trade deficit to bulge further, while raising prices and threatening to reignite inflation.>>

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