Strained relations
During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilise their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, 'Strained Relations' reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy.
Economic policyLaw and legislationForeign exchangeForeign exchange marketHistoryForeign exchange, law and legislationUnited states, economic policy