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| | World Economic Update - December 4, 2003 - Council on Foreign Relations |
 | | DUDLEY: Well, I think that’s something that the administration really does have, I think, a legitimate interest in, because what the administration, I think, sees is that the dollar does have to weaken, despite their reiteration of the strong dollar policy. |
 | | DUDLEY: Well, the first obvious impact is the fact that spending, both on defense and homeland security, are going to be on a much higher trajectory than they otherwise have been. |
 | | DUDLEY: We actually are reasonably constructive on the treasury market, long end of the treasury market, because we don’t think the Fed is going to tighten and we think the yield curve today is very steep. |
| www.cfr.org /publication.html?id=6580 (9330 words) |
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