Solomon, Robert - from United States
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Was a Guest Scholar at the Brookings Institution and President of RS Associates Inc., the publisher of International Economic Letter. With the Federal Reserve Board from 1948 to 1976, he was involved in both its domestic and international activities. He became Advisor to the Board, Director of its Division of International Finance, and Economist of the Federal Open Market Committee, participating in the many international monetary negotiations of the 1960s and early 1970s. Robert Solomon is the author of The International Monetary System, and The Transformation of the World Economy 1980-93.
Rose through the hierarchy at the Federal Reserve from 1947 to 1976. He became director of the Fed’s international finance division and an adviser to the board of governors. He was also vice chairman of the “Committee of 20” nations negotiating world monetary reform in the early 1970s.
Dr. Solomon, who had a second career as a scholar, wrote a well-received book that in part focused on his work trying to preserve the Bretton Woods monetary management system.
The Bretton Woods system, established to foster economic stability in the post-World War II era, created the International Monetary Fund to supervise the exchange rate system. The system also used the U.S. dollar as the center of the international monetary system. Countries pegged their currencies to the dollar, which could be converted into gold at the fixed rate of $35 an ounce.
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Past members, deceased