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To: Zardoz who wrote (83622)	3/22/2002 10:14:30 AM
From: long-gone	Respond to of 116762

Thursday March 14, 12:35 pm Eastern Time Factory group again calls for "sound" U.S. dollar WASHINGTON, March 14 (Reuters) - A high-profile group of U.S. manufacturers Thursday stepped up their long-standing lobbying campaign to get the Bush administration to do something to ease their worries over the strength of the dollar in foreign exchange markets. In a resolution adopted by its board of directors, the National Association of Manufacturers asked the White House to ``consider actions that can be taken to enable the dollar and other major currencies to move toward their equilibrium rates.'' The resolution suggests doing that by ``correcting market imperfections,'' countering manipulation of currencies by other countries and getting international cooperation in coordinated actions ``as appropriate.'' ``The overvalued dollar has led to a substantial reduction in exports of U.S. manufactured goods, and a consequent loss of manufacturing jobs, for the last year and a half,'' said NAM President Jerry Jasinowski. A strong dollar makes U.S.-made goods more expensive than those made by their foreign competitors. The group has been pressing its campaign for some time now, eliciting some sympathy, but no policy changes from the U.S. Treasury Department. ``The International Monetary Fund, the European Union, the (Group of 10 industrialized countries) and others have all said the dollar is overvalued -- and it is time for the Treasury to become active in developing a new dollar policy,'' Jasinowski said. biz.yahoo.com