``The United States should now focus on fulfilling the original promise of the Bretton-Woods conference that established the IMF and World Bank. We should use these international financial institutions purely as tools for economic policy coordination. This is not to say that the original Bretton-Woods policy prescriptions, such as fixed exchange rates and an international reserve currency, should be followed. But what these policies got right was that we ought to focus on balancing the economic health of countries through facilitating international cooperation on monetary policy. Any sort of conditionality, particularly of a political nature, is unnecessary at best for global development and financial stability.''

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