Gianluca Benigno on the Basics and Policy Functionality of R** and the Dollar’s Imperial Circle
Macro Musings with David Beckworth
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The Role of the Dollar in the Asymmetric World
I've heard lots of stories about how the dollar cycle gets reinforced and it's pro cyclical from the financial side. But you're telling a story where that circle works through manufacturing and because the US is less exposed, more service driven, that it definitely does better and therefore the dollar gets stronger. And so it's a vicious cycle. I mean, it dis reinforces itself and continues to be a problem. Are there any policy implications to this because it's a global phenomenon, right? Is it just observing what is happening or is there any implications for policy?
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