Economist Dean Baker to discuss merits of devaluing the dollar, Feb. 28

Economist Dean Baker, co-director of the Center for Economic Policy and Research, will explain arguments for erasing trade deficits by devaluing the dollar at a Newsmaker press conference at 10 a.m. Thursday, Feb. 28 in the Zenger Room of the National Press Club.

Baker says the trade deficit is the major imbalance in the U.S. economy and that as long as the deficit continues, the U.S. will suffer budget deficits or negative private savings.

Baker will explain why he thinks a more sustainable growth path will require a move towards balanced trade, which would require devaluing the dollar against other currencies.

Baker, who is frequently cited in economics reporting in major media outlets, writes a weekly column for the Guardian Unlimited, The Huffington Post and other news outlets and has authored a number of books, including "The End of Loser Liberalism: Making Markets Progressive."

The Zenger Room is located on the 13th Floor of the National Press Building, 529 14th St., NW. For more information, contact Joe Sparks at 314-807-6059 or by email at [email protected].