Tag: US Dollar (Currency)

British Pound Tumbles, Reflecting Economic Concerns in U.K.

LONDON — The pound tumbled against the dollar on Tuesday, as investors grew worried about Britain’s economic prospects and the specter of a no-deal Brexit. The pound has been sliding during the last few weeks, but on Tuesday, it slipped about 0.5 percent, falling to $1.24, its lowest level in two years. The fall below […]

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In Firing Central Bank Chief, Turkey’s Leader Trades Credibility for Growth

LONDON — Turkey’s president, Recep Tayyip Erdogan, abruptly fired the central bank chief on Saturday, dealing a new blow to the institution’s credibility while threatening to intensify the nation’s wrenching economic crisis. The move, made in the early hours of the day by presidential decree, was the latest evidence of Mr. Erdogan’s unequivocal dedication to […]

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Treasury’s Inspector General to Review Harriet Tubman $20 Bill Delay

WASHINGTON — The Treasury Department’s internal watchdog has agreed to look into why designs of a new $20 bill featuring Harriet Tubman will not be unveiled next year. Senator Chuck Schumer of New York, the Democratic leader, last week asked the Treasury Department’s inspector general to open an investigation following Treasury Secretary Steven Mnuchin’s announcement […]

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Why Are Elizabeth Warren and Donald Trump Trying to Weaken the Dollar?

Elizabeth Warren’s “economic patriotism” differs in style and content from Donald Trump’s economic nationalism, but they have found common cause in vows to weaken the dollar. That is a strangely self-defeating agenda for patriots or nationalists of any political fashion. Mr. Trump and Ms. Warren argue that China and other emerging rivals weaken their currencies […]

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The Trade War is Taking Money From Your Wallet, and Returning Some, Too

Since the start of the Trump administration’s trade war last year, economists and executives have repeatedly warned that consumers will ultimately end up footing the bill for tariffs through higher prices. That’s true. It just might not feel like it. A recent economic study estimated that the 10 percent tariffs imposed last year on $200 […]

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A Radical Plan to Fix the Dollar

Elizabeth Warren released an “American jobs” plan recently. It includes several trade and manufacturing policies intended to benefit American workers and companies. Wall Street responded with righteous indignation, which suggests she may have hit a nerve. One element of her plan most likely explains Wall Street’s angry reaction: a call to tackle America’s overvalued dollar. […]

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See a Design of the Harriet Tubman $20 Bill That Mnuchin Delayed

WASHINGTON — Extensive work was well underway on a new $20 bill bearing the image of Harriet Tubman when Treasury Secretary Steven Mnuchin announced last month that the design of the note would be delayed for technical reasons by six years and might not include the former slave and abolitionist. Many Americans were deeply disappointed […]

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