The monetary policy of the United States has a major impact on global liquidity and capital flows and therefore, the liquidity of the U.S. dollar should be kept at a reasonable and stable level.
“Two things are desired in order that intercourse may be had: First, that a minister or agent be allowed to reside at the capital. Second, that commerce between different countries be freely allowed.”
“I never taste the wine first in restaurants, I just ask the waiter to pour.”