Famous quote by Martin Feldstein

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But then in April of 1985 the dollar began a sharp decline. The dollars trade weighted value fell 23 percent in just 12
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"But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988"

- Martin Feldstein

About this Quote

This quote by Martin Feldstein is referring to the sharp decline of the US dollar in the mid-1980s. In April 1985, the dollar began to drop in worth, and within 12 months had actually fallen by 23 percent. By the beginning of 1988, the dollar had actually stopped by a total of 37 percent. This decline in the worth of the dollar had a considerable effect on the United States economy, as it made imports more costly and exports cheaper. This caused a decrease in the need for United States items and services, and a boost in the need for foreign goods and services. This, in turn, caused a reduction in financial development and a boost in unemployment. The decrease of the dollar also had a negative impact on the US stock market, as financiers were less willing to buy United States stocks due to the reduced value of the dollar.

About the Author

USA Flag This quote is written / told by Martin Feldstein somewhere between November 25, 1939 and today. He/she was a famous Economist from USA. The author also have 28 other quotes.

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