U.S. exchange rate policy: Bretton Woods to the present. (includes glossary)

From: Federal Reserve Bulletin | Date: November 1, 1990| Author: Pauls, B. Dianne | Copyright information

U.S. Exchange Rate Policy: Bretton Woods to Present

Over the past thirty years or so, the United States has operated under two distinct exchange rate regimes. The first, which lasted effectively from December 1958 to March 1973, was the Bretton Woods system of fixed exchange rates. In the second, which began in March 1973 and has continued to the present, exchange rates have been subject to managed floating. This article traces the evolution of U.S. exchange rate policy thro...

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