ABSTRACT
Throughout the interwar period most bankers, financiers, and economists believes that international cooperation is necessary to guide and manage the global economy. In the early 1920s, Great Britain attempts to resume its prewar place as steward of the international economy. As secretary of state, Hull believes that Moley's departure from the state department means the president is ready to embrace economic internationalism. The goal of the new deal from the beginning promotes recovery by forcing wages and prices upward and for the first few months of Roosevelt's presidency this seems to be working. The Reciprocal Trade Agreements Act, shifts power over trade policy from congress, which traditionally sets tariff rates to the executive branch. It gives the president authority to negotiate bilateral trade agreements with other countries. The good neighbor policy, unveiled during Roosevelt's inaugural address, foreswore future military involvement in Central America and the Caribbean and soon afterward US forces were withdrawn from long deployments in Nicaragua and Haiti.
