United States, Plaza Court, Bank Of Japan discussed on Face the Nation


It's happening to the U.S. too. You all paying back debt at a higher level. But if they have to pay back in dollars like you're getting to, it's harder to get that many dollars, right? So it's costing them more to pay if they have dollar denominated debt. So it can go in a various tentacles that hurt them for sure. Do we have to be worried Liz about, you know, we've seen this in the past, right? You talk about history, was it back in 85 in your story you talk about the Plaza court. I mean, do we have to be worried though about other nations working in agreement together to counter that strong U.S. dollar? Well, of course, some are trying in unison, like you guys have talked many times about the bank of Japan, which had been intervened unilaterally trying to slow the weakness in their currency. Other countries are doing some mild intervention, but you know, not to be like the U.S. is everything. But for a major intervention to really have heft, the U.S. would have to be involved. So much of FX trading, part of it is price in dollars. So I mean, other countries could try to coordinate a little bit more, but what it seems like. And you know, never say never, but the kind of 1985 style Plaza accord, you know, it is in the cards now. That was Bloomberg news bond in FX reporter, Liz McCormick on it this week's cover story. Coming up, well, the strong dollar. Yep, it's a big macro issue for the world. However, not necessarily top of mind for 1 May or back here in the United States. He is more concerned in making sure his city is among the country's most desirable

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