March 7th is the day the “Dodge Line” came into force in the United States.
On this day in 1949, the Dodge Line was enforced by the US GHQ.
This is a fiscal policy implemented to mitigate inflation that was occurring in Japan at that time.
“Dodge” comes from the name “Joseph Dodge,” who was the president of the “Detroit Bank” at the time.
Inflation in Japan has subsided as the dollar-yen exchange rate was fixed at 360 yen.
However, many SMEs went bankrupt and the number of unemployed increased.
– SpringerLink: The Dodge Line