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Economy

July 23, 1994|From Times Staff and Wire Reports

Greenspan Says Dollar a Priority: The Federal Reserve Board chairman told Congress that the central bank and the Clinton Administration are working closely to protect the dollar in the face of battering from world currency traders. Alan Greenspan went out of his way to emphasize that the Fed and the Administration are in total agreement that the United States would benefit from a stronger dollar. He did not say specifically what the Fed will do to defend the greenback, but, as he did in congressional testimony Wednesday, Greenspan said the dollar's plunge is especially worrisome because it indicates inflationary worries among foreign investors.

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