Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just how much the dollar must change to bring about any given reduction in our trade deficit.
“Everybody's life has these moments, where one thing leads to another. Some are big and obvious and some are small and seemingly insignificant.”
“As our expedition to New York seems likely to be attended with a very fatal Consequence, and ourselves haply censured for undertaking it without assurance of success.”