Foreign Exchange Markets White House Statement.

The President has been meeting with Secretary of the Treasury Blumenthal, Chairman of the Federal Reserve Board Miller, and others in the light of his deep concern over developments in foreign exchange markets in recent days. The sharp decline in the dollar and disorderly market conditions, at a time when the U.S. trade position is showing signs of real improvement, could threaten progress toward dealing with our inflation and achieving orderly growth at home and abroad. In the light of these circumstances, the President requested the Secretary and the Chairman to consider what actions might be appropriate on their part and to recommend any future actions on his part to deal with the situation.