Word: dollarization
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...those awkward occasions when he is asked about his nation's currency, President George W. Bush has a simple response. "We believe in a strong-dollar policy," he'll say--or words to that effect. For his Treasury Secretary, Hank Paulson, the mantra is, "A strong dollar is in our nation's interest...
...dollar hasn't been paying much attention, apparently. It has lost 41% of its value against the euro, its main global competitor, since Bush took office in 2001. And Paulson, when he's not busy battling financial crises here, can usually be found in China beseeching the authorities there to let their currency rise against the dollar...
...should be pretty obvious, then, that the U.S. doesn't have a strong-dollar policy. What's more, it almost certainly shouldn't have one. The huge trade deficits that the country has been running for the past decade seem like a pretty good indication that the dollar was overvalued in global currency markets and needed to come down...
...Anyone planning to cross the Atlantic in the foreseeable future knows how expensive Europe has become. After some misinterpreted comments by a French policymaker, the single European currency hit a new all-time high against United States currency last Tuesday: It briefly cost 1.60 dollars to buy a euro. The dollar’s weakness predates the current financial crisis investment banks are fretting about and the prophecy of recession. Driven by gargantuan budget deficits in Washington and compounded by a negative American trade balance, the euro has been gaining ground against the dollar for years...
...lobbying the ECB to effectively behave more like the American Federal Reserve. After all, since the beginning of the write-down debacle in Wall Street, renowned Great Depression scholar and Fed Chairman Ben S. Bernanke ’75 has strongly favored loose economic policy (and a weaker dollar) to mitigate any economic downturn. Interest rate cuts have grabbed most headlines, but more money floating around will inevitably translate into higher inflation. It is only a matter of time...