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To: 10K a day who wrote (105)12/13/1999 4:37:00 PM
From: Cynic 2005  Read Replies (1) | Respond to of 42523
 
Clown Summers' parrot repeats: "strong dollar is in the best interest of US economy"
biz.yahoo.com
Monday December 13, 4:22 pm Eastern Time
Summers reiterates U.S. strong dollar policy
WASHINGTON, Dec 13 (Reuters) - U.S. Treasury Secretary Lawrence Summers reiterated on Monday that a strong dollar was in the nation's best interest and said Japan still faced the challenge of cementing a tender upturn in its economy.

''We've stated our policy on our currency many times,'' he told CNN. ''We believe a strong dollar is in our national interest.''

Summers said developments in Japan, the world's number-two economy, were key to the rest of the region and the entire global economy.

''We're always watching what's happening in Japan very closely,'' he said.

''There has been considerable repair in the Japanese banking system over the last year, but certainly the challenge that we have been talking about for a long time, of assuring strong and sustainable domestic demand-led growth, remains with us,'' Summers added.

He urged Tokyo to use fiscal, monetary and structural policies to make its economy stronger