Actually it has the opposite effect on the dollar.
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Go ahead and explain how reducing the production of goods and services strengthens a currency.
All Volcker had to do was reduce money creation to match Reagan’s policies of smaller government and more private sector productivity. Volcker went way too far. And inflation wasn’t halted, it was reduced.
Funny how you and other Conservatives choose to toe the line of Democrat Volcker and others who believe that only Big Government can solve problems.
“Go ahead and explain how reducing the production of goods and services strengthens a currency.”
I wasn’t speaking of a reduction of goods and services, I said reducing monetary growth. Evidently you don’t bother to read.
And your complaint about lost production is identical to what Yale’s Keynesian economist James Tobin was saying against the Reagan-Volcker program so spare me your pretense of knowing what you’re talking about.