“A strong currency means that American consumers and businesses can buy imported goods and services more cheaply and that inflation and interest rates will be lower, ... It also puts pressure on American industry to increase productivity and competitiveness. These benefits can feed on themselves as foreign capital flows in more readily because of greater confidence in our currency. A weak dollar would have the contrary effects.”
Quote by Robert Rubin
Author
Robert Rubin
Robert Rubin, born on August 29, 1938, is a prominent American politician, lawyer, and financial expert. He served as the United States Secretary of the Treasury under the Clinton administration, one of the most influential Treasury Secretaries in American history. During his tenure, Rubin contributed to the prosperity of the U.S. economy and successfully navigated through the Asian financial crisis and the Russian debt crisis. He also pushed for financial market reforms and improved financial regulatory standards. more