Just as a properly moored ship has some play in the mooring lines to absorb changes in the wind and the tide, the floating dollar helps the economy to absorb shocks—especially external shocks that ...

Today, with a floating dollar and no such guardrails, the upcoming "Liberation Day" tariffs on April 2 may even be encouraging the dollar’s weakness at the margin—potentially amplifying ...

Since 1971, the dollar and other major currencies have been disconnected, with different rates of interest and inflation, and allowed to fluctuate relative to each other. Supporters of floating ...