FIXED RATES WERE NOT SO GOOD EITHER
A worldwide conference on the monetary system — a possibility now being studied by the US Treasury at President Reagan’s request — might well meet in the hope of replacing the present floating exchange rates by a more stable regime. But is this practical? Is it even desirable?
The trends of the dollar over the past five years, first upward and now downward, have been set off by changes in the monetary and fiscal policies of the United States.
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