Word: dollars
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Dates: during 2000-2009
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...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...
...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...
...satisfy the needs of both parties. Universities should make an effort to shoulder the burden of copyright costs that hike up the price of textbooks. In doing so, however, they must creatively lower costs while remaining within the confines of the law. Although copyright law leads to hundred-dollar course packs that are costly to universities and students, intellectual property law ensures the ongoing production of the journals and scholarly work that are necessary to our studies. Scholarly journals could not survive without these copyright costs, and academia would suffer a loss without the existence of these journals, which provide...
...hedge the risk of interest rate changes.) That experience made him confident in challenging financial orthodoxy. "I was tossed out of banks across America," says Sandor. "They said interest rates wouldn't change, that financial futures were pointless." They were wrong - financial futures are now a multi-trillion-dollar industry, and Sandor is a very rich man. (Hear Sandor talk about the emissions trading market on this week's Greencast...