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The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets.
Instruments of monetary policy have included short-term interest rates and bank reserves through the monetary base. [1]With the creation of the Bank of England in 1694, which acquired the responsibility to print notes and back them with gold, the idea of monetary policy as independent of executive action began to be established. [2]
Replacing Treasury Secretary Lloyd Bentsen early in December 1994, Robert E. Rubin responded to the dollar’s depreciation with: “A strong dollar is in our national interest.” [34] [35] Thus, in 1995, Rubin re-set U.S. dollar policy, stating, in paraphrase: The strong-dollar policy is a U.S. government policy based on the assumption that a ...
The US delegation played an integral role in the establishment of the basic tenets of the IMF and maintains a large presence in the workings of the organization. In addition, under the Bretton Woods system, other countries’ currencies were kept at a fixed exchange rate to the U.S. dollar, which in turn was pegged to the value of gold.
After the successful Gulf War of 1991, many analysts, such as Zbigniew Brzezinski, claimed the lack of a new strategic vision for U.S. foreign policy resulted in many missed opportunities for its foreign policy. During the 1990s, the United States mostly scaled back its foreign policy budget as well as its cold war defense budget which amounted ...
WASHINGTON (Reuters) -South African-born billionaire businessman Elon Musk worked illegally in the United States during a brief period in the 1990s while building a startup company, the Washington ...
The officially stated goals of the foreign policy of the United States of America, including all the bureaus and offices in the United States Department of State, [1] as mentioned in the Foreign Policy Agenda of the Department of State, are "to build and sustain a more democratic, secure, and prosperous world for the benefit of the American people and the international community". [2]
America Online CEO Stephen M. Case, left, and Time Warner CEO Gerald M. Levin listen to senators' opening statements during a hearing before the Senate Judiciary Committee on the merger of the two ...