Word: volckerism
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Arthur Burns told other central bankers that the board would let U.S. short-term interest rates rise-a move that should help stanch the flow of dollars abroad in search of a higher return. Then, at midweek, Connally declared in Manhattan that he was dispatching Treasury Under Secretary Paul Volcker to confer with foreign officials about first steps toward long-run monetary reform...
...taken to playing on Canadian fears of congressional retaliation, possibly by a reimposition of the 7% excise tax on Canadian-made cars-although things are not likely to come to that for some time. "There are elements in this country which are protectionist by nature," Treasury Under Secretary Paul Volcker warned a group of Canadian and American businessmen last week in Washington. Canadian Trade Minister Jean-Luc Pépin complains that the U.S. is a hard nation to bargain with. As he told TIME'S Lansing Lamont: "We speak with one voice, but not the U.S. The American...
Connally, vacationing in Texas, was brought winging back by a telephone call on Aug. 13 from Under Secretary for Monetary Affairs Paul A. Volcker. Volcker told Connally that more than a billion dollars had shifted on the European monetary markets the day before, another $500 million in the morning. "It's a Friday and it ought to be a calmer day," advised the worried Volcker. The Bank of England was pressing for a guarantee that some $3 billion that was held in reserve would not be devalued. A panic seemed possible. "I'd better get up there," said Connally...
Reparations Argument. The mood in Europe also grew darker. It was not helped by a parade abroad of official American flag wavers, who have tried to hard sell the U.S. program in rather unconciliatory terms. Paul Volcker, Under Secretary of the Treasury, irritated the French by telling them that Nixon, for political reasons, will be unable to devalue the dollar. In Brussels and Paris, U.S. ambassadors and their aides summoned groups of resident U.S. businessmen to advise them that foreign governments actually approved of the Nixon program and that the U.S. position should be, "We don't apologize...
Catoctin Mountain retreat. Burns and McCracken were there; so were Shultz and his deputy, Caspar Weinburger, and the two Teutons who guard Nixon's gates, H.R. Haldeman and John Ehrlichman. Peter Peterson, a presidential aide for international economic affairs, joined the sessions. Volcker and Speechwriter Bill Safire sneaked across Washington to the Anacostia Naval Air Station, where they boarded a helicopter for Camp David. John Connally, who had no way of knowing that the pressure on the dollar would propel him into prominence so soon, had just gone to his Texas ranch for a vacation. He jetted hastily back...