Dollar Politics: Exchange Rate Policymaking in the United States - Softcover

Destler, I. M.; Henning, C. Randall

Softcover

ISBN 10: 088132079X ISBN 13: 9780881320794

Publisher: Peterson Inst for Intl Economics, 1989

Synopsis

The making of US exchange rate policy has usually been the province of a small circle of senior government officials in the Treasury Department and the Federal Reserve. That circle was widened in the 1980s as US producer interests, injured by the surge in the Dollar's value, brought pressure on the Reagan administration and forced a reversal of its hands-off policy. "Dollar Politics" analyzes the interplay of influence among the Treasury Deparment, the Federal Reserve, the rest of the administration, the Congress, and private interests. The authors conclude that exchange rate policymaking remains dangerously divorced from fiscal and monetary policy, and is frequently unresponsive to the legitimate concerns of private economic factors. They propose specific reforms to link daily government operations on the dollar much more closely to broad goal-setting by both Congress and the administration and to overall management of the economy.

Edition details

• Publisher: Peterson Inst for Intl Economics
• Publication date: 1989
• Language: English
• ISBN 10: 088132079X
• ISBN 13: 9780881320794
• Binding: Paperback
• Number of pages: 174