You Say Tomato I Say To-mah-to

Recently there’s been talk of currency wars. If a nation prints money to lower interest rates to promote growth and happens to weaken its currency, it’s OK. But if a country prints money to lower interest rates to weaken its currency and happens to promote growth, that’s bad. In today’s slow growth environment, printing money both weakens a currency and promotes exports simultaneously! It’s a distinction without an economic difference.