Administration's Plan for Low Dollar? Who Knows?

Every day, there are scary signs in the news that the US dollar is in deep trouble. Record high gas prices, record high gold prices, record lows for the dollar verses other nations' currencies.

So there's got to be a plan right? The Bush Administration must have a contingency for stalling a further drop, or, something. . .right? As George was famous for saying in the past, “My job is to worry about it. Your job is to go about your business.”

[Excerpt]

Dollar Policy: Don’t Ask, Don’t Tell

When asked about the administration’s policy on the dollar, Treasury Secretary Henry Paulson Jr. dutifully says a strong dollar is in the nation’s interest and that markets should determine currency exchange rates. [snip]

So Mr. Paulson’s pat answer raises a more fundamental question: What, if anything, would the administration be willing — or able — to do if the dollar slid to unacceptable lows?

Read more at: New York Times