By Madhupriya
September 29,2022
According to Steve Forbes, chairman of Forbes Media, governments and central banks have neglected
the value of maintaining stable currencies in their concentration on rising interest rates to control inflation.
Following last week's declaration by the newly elected U.K. government that it will adopt tax cuts
and investment incentives to encourage growth, the British pound briefly decreased 4% to an all-time low of $1.0382.
Republican candidate for president Forbes stated that the goal was to combat inflation by slowing down the economy,
Forbes proposed using gold to stabilize currencies, such as by connecting the US dollar to gold to give it a set value.