The strong dollar policy is the United States economic policy based on the assumption that a strong exchange rate of the United States dollar is in the interests of the United States and the whole world. It is said to be also driven by a desire to encourage foreign bondholders to buy more Treasury securities. The United States Secretary of the Treasury occasionally states that the US supports a strong dollar. Since the implementation of this policy, the dollar has declined substantially. Despite this, the policy keeps inflation low, encourages foreign investment, and maintains the currency's role in the global financial system.
Famous quotes containing the words strong, dollar and/or policy:
“Through tattered clothes great vices do appear;
Robes and furred gowns hide all. Place sin with gold,
And the strong lance of justice hurtless breaks:
Arm it in rags, a pigmy’s straw does pierce it.”
—William Shakespeare (1564–1616)
“Commercial to the core, Elvis was the kind of singer dear to the heart of the music business. For him to sing a song was to sell a song. His G clef was a dollar sign.”
—Albert Goldman (b. 1927)
“The horror of Gandhi’s murder lies not in the political motives behind it or in its consequences for Indian policy or for the future of non-violence; the horror lies simply in the fact that any man could look into the face of this extraordinary person and deliberately pull a trigger.”
—Mary McCarthy (1912–1989)