MONEY: Hard U.S. Line for the Summit

A world monetary system based on floating exchange rates, so dear to the hearts of the Ford Administration's top economic and monetary officials, is giving them fits. Instead of smoothing adjustments in currency values, on occasion the market-based system is making them more erratic, and that is not the way it was supposed to work. Concerned by this unexpected twist, and by the fundamental international economic problems that lie behind it, U.S. officials decided it was time for a rerun of last fall's six-nation summit meeting at Ch√Ęteau de Rambouillet.

Next weekend in Puerto Rico,...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!