The last Years of the fresh RFC, 1946-1953
Proof of the flexibleness provided from the RFC was President Roosevelt’s use of the RFC in order to change the market value off gold. The brand new Chairman wished to slow down the gold property value the brand new buck out-of $ each oz out of gold. Once the buck price of gold increased, the fresh new dollars rate of exchange would slip according to currencies which had a fixed gold price. A belong the value of this new money produces exports smaller and you can imports more costly. When you look at the an economy with a high levels of unemployment, a drop during the imports and increase when you look at the exports create boost residential a career.