$1 U.S. = $1 Canadian

The U.S. dollar fell in value so that one dollar U.S. equals one dollar Canadian. This Boston Globe article describes the current situation — how the dollar has fallen as an expected result from cutting short-term interest rates, while long-term and mortgage rates have risen.

A similar article appearing in today’s New York Times references this paper by Karen E. Dynan, a Fed economist, and Donald L. Kohn, the Fed’s vice chairman, which asks why a strong economy has left Americans deeper in debt.

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