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Will the Mar-A-Lago Accord Work Like the Plaza Accord?
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Although little-known at the time, and almost completely unknown to anyone except economists now, in 1985 some very smart economists from the Reagan Administration and then the subsequent George Bush Sr. Administration, and Japan, and several Western European nations, hammered out the Plaza Accord (so-called because the meeting happened at the famous Plaza Hotel in NYC) to depreciate the dollar. This would happen through joint currency intervention. They executed this currency policy coordination policy plan with the help of some equally smart people from our close trusted allies. It worked.
Now, the Trump Administration seems to be intent on executing at least some parts of the "Mar-A-Lago Accord", a wide-ranging policy document ginned up by the Project 2025 folks, that wants to mimic the Plaza Accord in many ways. Will it work?
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