The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit. – Martin Feldstein
A second reason why science cannot replace judgement is the behavior of financial markets. – Martin Feldstein
First, I think the science of monetary economics has clearly gotten better. – Martin Feldstein
But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries. – Martin Feldstein