A popular argument made by protectionists is that undervalued foreign currencies foster trade deficits, lower employment and are therefore harmful to the domestic economy, such as that of the United States, which is currently enjoying a relatively high dollar value. But are Americans really made poorer by their high-flying dollar?
George Mason University
Quantitative easing and low interest rates were to work together to ignite roaring economic growth following the last financial crisis; in some parts of the world, monetary policy has set interest rates at zero (even below), but growth remains elusive and rock-bottom inflation rates coincide with interest rates. What went wrong?
In the US, strict and costly regulations in the aftermath of the financial crisis were applied with a broad brush, to large financial institutions capable of creating systemic catastrophe and to community banks with risks tied only to the communities they faithfully serve. Now is the time to strengthen the best of the financial system, its community banks.