Forget what you know about a strong dollar being in America’s national interest. These days, weak is chic. When Treasury Secretary John Snow declared the sagging dollar to be just fine thank you at last week’s meeting in France, the sacré-bleu! heard around the world sparked a sell off in world stock markets.
Here at home, the reception was a bit more positive. A downsized dollar will help boost U.S. exports and shrink the trade gap. It also makes the land of the free, the home of the bargain for world travelers. There is, however, a downside. That summer vacation to Italy or the already unaffordable shoes made there may now be really out of reach. Making “sense” of the incredible shrinking dollar.
Catherine Mann, senior fellow, Institute of International Economics
Rick Steves, founder, Europe Through the Back Door
Jack Burns, franchise owner, Days Inn
Jimmy Smith, president, Tradewinds International, Inc.