Word: bucks
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...possibility. (Hope springs eternal, they say.) Likewise, another amendment authorized research into and experimentatin with a strictly regulated by-pass system--again, no promises were made, and the final decision was granted to the Core committees. Politicians call this type of maneuver "coalition-building"; others refer to it as "buck-passing." Either way, it worked...
...buck dropped and bullion soared, the Administration talked action...
...when the President appeared before the TV cameras he had nothing new to say. He spoke of his confidence in the U.S.'s "underlying economic strength," expressed hope that a narrowing U.S. trade deficit and a topping out of American inflation this year would eventually strengthen the battered buck-and let it go at that. Even as Carter was speaking, the dollar began sliding again. Though it rose smartly the next day, following an announcement by Blumenthal that there would be "a series of continuing actions" to bolster the dollar in coming weeks, no one could be sure that...
...these moves would be sufficient to steady up the dollar over the long run, but some combination of them might buttress the buck long enough to permit fundamental market forces to take over. The Carter Administration has long hoped that the dollar's slide would eventually be self-correcting. It would boost U.S. exports by making them cheaper, cut imports by making them more expensive, and thus lower the trade deficit; then the dollar would rise again. There are some signs that the Administration's faith may not be in vain. For example, Japanese imports now account...
Japan was not a good place for Americans to be last week, and Europe was not much better. The bruised and battered buck was staggering through another glassy-eyed performance of its Incredible Shrinking Act; and when the curtain dropped at week's end, the star performer looked more frazzled and anemic than ever...