Fixed Exchange Rates Will Not Work Op-Ed

• Published in: The New York times
• Main Authors: Johnson, Thomas S, Thomas S. Johnson is president of Chemical Bank
• Format: Newspaper Article
• Language: English
• Published: New York, N.Y New York Times Company 20.02.1986
• Edition: Late Edition (East Coast)
• Subjects: CURRENCY; JOHNSON, THOMAS S (CHEMICAL BANK); REAGAN, RONALD WILSON (PRES); STATE OF THE UNION MESSAGE (US); UNITED STATES

This does not mean nothing can be done. Clearly, with the world facing disturbingly volatile currency and interest rates, something is wrong somewhere. The dollar's value in West German marks and yen has varied by at least 33 and 32 percent, respectively, over the past 12 months. America is run...