Could The Plunge Have Been Prevented? Probably

With the dollar plummeting, Americans in Paris are more likely to be found swarming bureaux de change than visiting the Eiffel Tower. But the panic abroad has hardly disturbed Washington's August slumber. Half the governors of the Federal Reserve Board have joined the city's late-summer exodus, as has the Fed's chief international economist. Treasury Secretary Nicholas F. Brady is out of sight as well.

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