Word: rooth
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Dates: during 1930-1939
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Sweden's currency management is a very conservative affair. The "manager" is the Swedish Riksbank's Governor Ivar Rooth, who has far fewer powers than the U. S. Federal Reserve now has. Studious, young (46) Governor Rooth's first objectives were to prevent inflation and keep prices stable inside Sweden. By May 1932. with inflation averted, Governor Rooth attacked his third objective-to raise the level of wholesale prices slowly and firmly, without increasing the cost of living. He cared nothing for what foreigners were willing to pay outside for Swedish kronor, except as foreign exchange affected...