Monday, October 26, 2009

Richard Clarida on the US Dollar

Former Assistant Treasury Secretary--and current global strategic advisor at PIMCO, Richard Clarida candidly states the obvious in a Bloomberg interview:

"The public statements--and again, I worked for two Treasury Secretarys, I drafted those statements...they always have to say they're in favor of a strong dollar policy. But I think if you look at the IMF studies, if you look at the independent analysis, everyone agrees that if we're going to have a balanced global situation for the next 5 years, it will feature a somewhat weaker dollar."

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