Word: dollarization
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Dates: during 1980-1989
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...worrying that the $23 billion deficit reduction required by the Gramm-Rudman-Hollings bill would not be adequate to restore Wall Street's confidence. Rep. Tony Coelho, a Democrat of California, has urged his colleagues to "talk about something real"--by which he means cutting $40 to $50 billion dollar from the deficit...
...dollar ends the week at 1.8060 marks, vs. 1.8015 a week earlier. The gain is modest but ironic, in view of the intention expressed by U.S. officials the weekend before to improve U.S. competitiveness by allowing a decline...
Brokers said the market, which got off to a strong start after the opening bell, shrugged off the dollar's weakness in foreign exchange markets and the stock price decline on some overseas markets, particularly Hong Kong and Japan...
Hugh Johnson, a senior vice president and market analyst for First Albany Corp., added that even though the dollar slipped, traders felt the currency eventually would stabilize. He said the United States and its major trading partners were showing signs of cooperating more to stabilize exchange rates...
...more stable dollar will also steady interest rates, a key factor affecting stock prices. Interest rates in the credit markets declined yesterday...