Because isn't that how we Americans like our money? Big and strong? Like our action heroes, our skyscrapers, and our aircraft carriers?
But what if … a strong dollar is overrated, or even … not good for America?
Get set to hear the arguments go both ways, and to learn a lot about how money works, when I moderate the next Intelligence Squared U.S. Debate on the Great Dollar Clash.
“America Doesn't Need A Strong Dollar Policy.” That's the proposition, and we have two teams clashing, whose members include Steve Forbes (of Forbes magazine and U.S. presidential election fame), James Grant (of the newsletter by the same name), Frederic Mishkin (of Columbia Business School and formerly the Fed), and John Taylor (who manages lots of dollars, as well as euros, Swiss francs and Japanese yen).
And for those of you who may feel you're drowning when talk turns to economics, rest assured these debaters are committed to speaking in plain, ordinary English. In fact, it'll be a chance to learn a thing or two from people who like to teach. But then, that's what our Intelligence Squared debates always aim for.
Join us. See if you look at a dollar bill the same way again (though they say that George Washington fellow was pretty big and strong himself).
In the meantime, meet our debaters:
Monetary Policy Strategy: Lessons From The Crisis
with Frederic Mishkin
National Bureau of Economic Research
“…the financial crisis has made it clear that the interactions between the financial sector and the aggregate economy imply that monetary policy and financial stability policy are closely intertwined.” Read More
John Taylor of FX Concepts Still Likes the Dollar
with John Taylor
John Taylor Blog
“I think [the dollar] is a good short term play, long term play, medium term might be a little wiggly.” Read More
Gold Can Save Us From Disaster
with Steve Forbes
“An unstable dollar is wreaking havoc on our capital markets, depriving us of money for productive enterprises and future enterprises while subsidizing government debt on a scale never before seen in U.S. history.” Read More
After The Crash
with James Grant
“The truth is that the current mess is a symptom of persistent financial derangement, in particular a sickness of the dollar.” Read More
John Donvan, Moderator
Intelligence Squared U.S. Debates