Word: dollar
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Dates: during 1970-1979
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...lately begun to bear fruit: unemployment has declined for five consecutive months, the annual inflation rate has averaged only 7% over the past six months, France's trade deficit has been halved, and the franc, in spite of a brief attack in early February, has risen against the dollar...
...estate of America's dollar in world markets distresses nobody so much as Economist Robert Triffin, who expressed some far-reaching opinions about it in a talk with TIME Senior Editor Marshall Loeb. His report...
...finance. He looks out on the world with sad, soulful eyes, and while he often does not like what he sees, he usually has ideas for setting matters right. Among many other things, he is now propagating a plan for getting some green back into America's fading dollar...
...advice on money policies. He conceived the European Payments Union, which did so much to revive the Continent's economies from the ruins of World War II. Two decades ago, he warned that the monetary system was barreling toward calamity because the U.S. was pouring out so many dollars. Now back in his native Belgium, where he is advising the European Community while on sabbatical from Yale University this year, he watches forlornly as the dollar crashes to record lows relative to the German mark and the Swiss franc...
Perhaps only someone who has been raised in Europe can understand the psychological impact of the dollar's fall. People in foreign countries often equate a country's political might and will with the strength of its money. Every time the dollar declines, concern rises abroad about America's power and capacity for leadership, and worries grow about the future of the West's free economies. It troubles Triffin that Washington's policymakers, many of them his friends and former students, do not seem to recognize these dangers. Their dollar-defending moves have been weak...