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McCain says happy to talk up stronger dollar

ASPEN, Colorado
Thu Aug 14, 2008 6:58pm EDT
Republican presidential candidate Senator John McCain smiles during a campaign stop at the General Motors Technical Center in Warren, Michigan July 18, 2008. REUTERS/Rebecca Cook

ASPEN, Colorado (Reuters) - U.S. presidential hopeful Sen. John McCain said Thursday he supports a strong dollar and said the currency would respond to the economy if the right policies were implemented to make it grow faster.

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"I'm for strengthening the dollar. But I also think we've got to have the economic policies in place for a stronger economy that will, over time, make sure that the dollar will be stronger," McCain, the presumptive Republican nominee, said during a talk at the Aspen Institute.

"If there is one bright spot in this dismal economic picture it is exports. And the exports will contribute over time to the betterment of our economy and a stronger dollar," he said.

U.S. exports have picked up sharply as the dollar has weakened to record lows against the euro this year, helping to offset the impact of the country's housing crisis, which has chilled growth and sparked a global financial crisis.

Noting that there are a number of economists worried by the dollar's decline who want it to strengthen, McCain said: "I'm all for it. And I love to talk it up, talk up the strong dollar, and I will."

(Reporting by Alister Bull, editing by Leslie Adler)



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