Martin Feldstein

So just as I want pilots on the planes that I fly, when it comes to monetary policy, I want to think that there is someone with sound judgement at the controls. ↗

— Martin Feldstein

#controls #fly #i #judgement #just

An increase in the relative price of products from the low wage manufacturers in Asia and Latin America will also make those products less attractive to American consumers. ↗

— Martin Feldstein

#america #american #american consumers #asia #attractive

And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets. ↗

— Martin Feldstein

#depend #feel #finally #financial #financial markets

But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988. ↗

— Martin Feldstein

#began #beginning #decline #dollar #fell

Domestic inflation reflects domestic monetary policy. ↗

— Martin Feldstein

#inflation #monetary #monetary policy #policy #reflects

First, I think the science of monetary economics has clearly gotten better. ↗

— Martin Feldstein

#clearly #economics #first #gotten #i

I think that over the last few decades, we have seen better economic outcomes than in the past. ↗

— Martin Feldstein

#decades #economic #few #i #i think

If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth. ↗

— Martin Feldstein

#balanced #becomes #both #competitive #dollar

In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth. ↗

— Martin Feldstein

#competitive #could #decreased #dollar #economic

A second reason why science cannot replace judgement is the behavior of financial markets. ↗

— Martin Feldstein

#cannot #financial #financial markets #judgement #markets