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State of the U.S. Macroeconomy - Essay Example

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I am especially glad to have this opportunity to have a one on one conversation with our esteemed journalists regarding our country. Virtually, almost every…
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of the U.S. Macro economy of the U.S. Macro economy As it has all the time been, it is a pleasure to be here to give an outline of the condition of the US macro economy. I am especially glad to have this opportunity to have a one on one conversation with our esteemed journalists regarding our country. Virtually, almost every American citizen is affected by any development in the economy with the adoption of diverse economic policy that is implemented. Nevertheless, contemporary macroeconomic issues can be significantly complex. For this reason, few specialists who have the necessary background and time to master issues regarding the international trade have developed various reports regarding the current macroeconomic position of the country.
Over the last twelve months, the economic recovery that began in the year 2009 is observed to have strengthened. Although the growth has not been fast enough to have a significant impact on the job market, the GDP of the country has shown drastic improvement. For instance, February 2015, the US dollar is seen to gain strength over the Canadian dollar. Furthermore, the US dollar has traded favorably with UK pound. Between 2014 and 2015, the US dollar has recorded tremendous improvement over the British pound moving from 0.58 to 0.66 British pounds. This figure translates that, for every 1 US dollar is equivalent to 0.66 British pounds. A foreign exchange rate determines how much a unit of currency will be exchanged for another currency (Thomson, 2015).
I know most of you could be wondering what determined these foreign exchange rates. Foreign exchange rates are determined by various factors such as the current market forces of demand and supply. In other words, how much the demand for a currency is in relation to its supply will determine the value of the currency in relation to other currencies. For instance, if the demand of the US dollar increases, the value of its currency in relation to other currencies will rise (Thomson, 2015). Thank you for listening to me and for your cooperation. I will be pleased to take any question.
References
Thomson C, 2015, Global market preview, retrieved from http://www.wsj.com/video/the-outlook-for-us-tourism-for-2015-and-more/B6C932A4-BD49-49FA-BC9C-696CE6C93977.html?KEYWORDS=USA+economy Read More
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