Word: strength
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Dates: during 1980-1989
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...record strength delights American tourists, but could choke the recovery
While a vigorous currency can be a source of national pride, the dollar's exceptional strength is causing alarm at home as well as abroad. Many experts fear that unless it can be throttled back, the dollar could threaten the recovery from the recession that ended last November. Says Walter Heller, chairman of the Council of Economic Advisers under Presidents Kennedy and Johnson: "The rise in the value of the dollar is putting the world economy on an extremely dangerous course. It has prevented Europe from having a healthy rebound and is placing tremendous pressure on developing countries...
...dollar has drawn added strength from foreign investors seeking a refuge from the uncertainties of their own countries. One leading U.S. banker estimates that wealthy Asians, Africans and Latin Americans have put at least $100 billion into American stocks, bonds, real estate and other investments since...
...billion trade deficit is like suicide," says Otto Eckstein, chairman of Data Resources, a Massachusetts-based economic forecasting firm. "It will mean more plant closings and more unemployment." Data Resources estimates that more than 1 million worker layoffs in the past two years were caused by the strength of the dollar...
...line German camera that cost $1,159 last year now sells for about $950. Experts estimate that the strong dollar has cut some $700 from the sticker price of a new Toyota Corolla. Robert Ortner, chief economist for the Commerce Department, says that the dollar's strength "makes the vast majority of consumers very happy. But they don't have a spokesman...