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		Home Page Dollar drop risk to U.S. recovery-Dallas Fed Tuesday February 3, 1:16 pm ET WASHINGTON, Feb 3 (Reuters) - A disorderly fall in the dollar is among the risks marring an otherwise optimistic outlook for the U.S. economy, the Federal Reserve Bank ( News - Websites ) of Dallas said in a report published on Tuesday. "Further declines in the dollar pose an unusual risk because an orderly retreat would be a plus for short-run growth, while a disorderly one might be a net minus if the impact of financial market disruption more than offsets gains in net exports," Dallas Fed senior economist John Duca wrote. Group of Seven finance ministers and central bankers will meet later this week in Florida amid calls from Europe to stem the drop in the dollar. It has fallen almost nine percent against a trade-weighted basket of currencies since September 2003, the last time the G7 met, making European exports more expensive and threatening the region's economic recovery. Duca said the outlook for strong U.S. growth with low inflation was good, thanks to impressive gains in productivity recorded by the economy in recent quarters. But more dollar weakness could boost import prices and challenge assumptions about the speed at which the U.S. economy can travel without sparking higher consumer prices. "Owing to the fall in the dollar and the recovery in worldwide demand, import and intermediate wholesale prices have resumed rising. While the pace of such inflation is still low, a further, sharp depreciation of the dollar could change that picture," he said. Fed officials have recently stressed that the weak dollar had not yet had a significant impact on import prices, thanks to factors like global competition and time-lags in adjusting export price lists to foreign exchange swings.   Back to Original Article: Mortgage News You Can Use   Continue with: Fed's Moskow says inflation worries are premature $2.4 Tril Bush Budget Ups Defense, Security, Curbs Other Spending Lies, Damned Lies, and Bush's Budget US Govt Proposes Speedier GDP, Trade Stats In '04 Budget Ford Motor's January U.S. Auto Sales Drop 5.2 Percent; Nissan Posts Gain Budget Plan Includes More For SEC, Mortgage Overseer Mortgage rates seen holding steady Don't overlook the tax breaks of home mortgage points Reserve Bank to make decision on interest rates tomorrow Bogus Budgeting Spending Outpaces Income Budget Plan Includes More For SEC, Mortgage Overseer Job Cuts Increase in January Treasuries Bounce, Wary of Moskow Factor Yields increase on Treasury bills Oil Falls as Speculators Take Profits Companies make lots of pink-slip plans in January Bush calls for revised savings plans Wages, factory hiring fall 2 engines of growth power economy Job cut announcements jump
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