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Krugman on how the stronger dollar and the weaker euro will hurt U.S. export competitiveness and growth in 2015-2016
03/13/2015
Europe will export some of its problems to the U.S. in 2015-2016, as the euro goes to parity with the dollar and makes European products more competitive with U.S. products in global markets. This will hurt U.S. growth. Yet it is important for the U.S. that Europe get out of its deflationary trap, and as for exchange rates and flows of capital this is how the global economy works with little that the U.S. can do about it, says Krugman. He believes many Federal Reserve governors were clueless about the impact of this on the U.S. growth in their March meeting as they pushed for higher rates, merely assuming that the situation it will turn out positively for the U.S. Krugman says that with growth in wages sluggish and low inflation the Federal Reserve needs to be very careful as it considers raising interest rates.
Grouped Articles
New York Times 03.13.2015
Weaker Euro Ripples Around World
Wall Street Journal 03.13.2015
Strong Dollar Stands in Manufacturing Sector’s Way
Wall Street Journal 03.16.2015
Torrent of Cash Exits Eurozone
Wall Street Journal 03.23.2015
U.S. Trade Gap Widens on Surging Imports
Wall Street Journal 05.06.2015
The New York Times 06.06.2016
The Economy’s Hidden Problem: We’re Out of Big Ideas
WSJ 12.06.2016
Fed Raises Rates for First Time in 2016, Anticipates 3 Increases in 2017
WSJ 12.14.2016
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