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Tag Archives: dollar default
Debt Causes U.S. Treasury to Suspend Reinvestment in Exchange Fund. Last Stopgap Measure Taken before Default
The fund is a crucial financial tool because it includes purchasing or selling foreign currencies to stabilize international financial markets and thereby prevent damage to U.S. exports and the national economy.
Automakers had no immediate comment, but the uncertainty surrounding the effects of a default on U.S. debt – potentially turning the “almighty dollar” into a third world currency – has left executives cautious about predicting sales for the remainder of the year. U.S. sales declined in June for the second straight month. Continue reading
