CAMBRIDGE: In his first international outing America’s new Treasury Secretary Paul O’Neill got tripped up – by telling the truth. During the Clinton Administration, Treasury Secretary Robert Rubin and then Lawrence Summers stated that America had a “strong dollar policy.” O’Neill reportedly said that “We are not pursuing... a policy of a strong dollar.” Immediately attacked for reversing a long-held policy, he quickly retreated. Too bad, because his comment made a lot more sense than his predecessors’ statements.
CAMBRIDGE: In his first international outing America’s new Treasury Secretary Paul O’Neill got tripped up – by telling the truth. During the Clinton Administration, Treasury Secretary Robert Rubin and then Lawrence Summers stated that America had a “strong dollar policy.” O’Neill reportedly said that “We are not pursuing... a policy of a strong dollar.” Immediately attacked for reversing a long-held policy, he quickly retreated. Too bad, because his comment made a lot more sense than his predecessors’ statements.