Word: dollars
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Dates: during 2000-2009
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Lynn Loring, a flight attendant for American Airlines, has been coming to Paris for 18 years, and at times when the dollar was strong, she says, "All I did was shop." But last week, walking around the Galeries Lafayette department store, she was doing more looking than buying. The reason: the dollar has been sliding against the euro, and that's making everything much more expensive for her. "I'm so depressed," she says. [an error occurred while processing this directive...
American Christmas shoppers in Paris aren't the only ones suffering from sticker shock. The dollar fell to a near-record low of $1.33 to the euro at the end of last week. It has shed about six cents since early November, shattering months of calm on currency markets, causing a mini-swoon on some stock exchanges and prompting French Finance Minister Thierry Breton to call for "great collective vigilance." The dollar has also slid against the British pound, which closed last week just a few cents short of $2, its highest in 14 years. Many investors are betting that...
...month. In Washington, meanwhile, the new Federal Reserve chairman, Ben Bernanke, has ended the series of rate increases introduced by his predecessor, Alan Greenspan, and Wall Street has been anticipating the start of a period of cuts as the U.S. economy loses momentum. This transatlantic divergence is pushing the dollar down. (Note, however, that Bernanke sounded a hawkish note in a speech last week, saying that inflation remained "uncomfortably high" - an indication that he won't be reducing rates soon.) The big question is whether the dollar will continue its decline over the next several months, or whether the recent...
Despite some jitters, few are panicking yet. Jean-Michel Six, head of economic research at Standard & Poor's in London, reckons the dollar will fall to between $1.42 and $1.45 against the euro by mid-2007, but even at that level, "we do not expect any significant impact on overall growth" in Europe. German machinery companies are currently operating at over 90% of their potential capacity, the highest since 1990, and are thus well able to weather a weaker dollar, says Olaf Wortmann, an economist at the German Engineering Federation...
Imagine a UC that delivers on its promises—not a day late and a dollar short but instead, on time and to the letter. Imagine a UC that doesn’t churn out position papers like a Washington think-tank, but instead makes real change happen—not on paper, but in reality. Imagine a UC actively focused on its principle task: improving the student experience at Harvard...