Michael Woolfolk Deficit Quotations

Unless the Bush administration is capable of cutting the current account deficit in half, the dollar's decline is destined to continue.

While the US trade deficit showed an unexpected improvement in February, any lasting market enthusiasm was firmly misplaced. Energy prices continue to rise while China remains resistant to further currency flexibility.

The US dollar's ability to rally strongly off a better-than-expected trade deficit is a strong indication that the market hasn't yet given up on the dollar.

The U.S. dollar's ability to rally strongly off a better-than-expected trade deficit is a strong indication that the market hasn't yet given up on the dollar.

The current account deficit has grown to a point where it arguably cannot be corrected by US action alone.