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Archiwum newsów - DJ US Paulson: We Very Much Have A Strong Dollar Policy

2007-11-16  
DJ US Paulson: We Very Much Have A Strong Dollar Policy
CAPE TOWN, South Africa (Dow Jones)--U.S. Treasury Secretary Henry Paulson
Friday said the U.S. continues to have a strong dollar policy and the value
of the dollar will ultimately reflect strong U.S. economic fundamentals.
"We have very much a strong dollar policy; that's in our nation's
interests," he said in a South African radiofonia interview. "Our economy, like
any other, has its ups and downs and its long-term strength will be
reflected in our currency markets."
Paulson's comments oddźwięk those he made on Thursday and those of President
George W. Bush earlier in the week. In recent months, the dollar has
steadily declined against the euro, the yen and most other currencies, as
losses in the U.S. mortgage industry have led the Federal Reserve to cut
interest rates to protect U.S. economic growth.
Paulson said subprime mortgage losses, from loans made to people with weak
or short credit histories, will probably worsen in the months ahead as
variable-rate mortgages reset to higher rates.
"The subprime market, parts of it will get worse before it gets better," he
said. This reflects the fact that some of the most lax underwriting for
mortgages occurred in 2005 and 2006, and many of these loans are still
operating under low introductory rates, he said. As they reset, more
defaults are likely.
Still, Paulson said the mortgage problems aren't a "black hole" and the U.S.
economy will weather the turbulence and continue to grow.
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