A joint resolution directing the President to take certain actions to assure a reasonable and stable exchange rate for the dollar.

Declares that the Congress pledges to continue its efforts to reduce the budget deficits.

Directs the President and the Board of Governors of the Federal Reserve System to strengthen U.S. cooperation with the central banks and other appropriate institutions of our major allies.

Directs the President to resolve current policy ambiguity by formally withdrawing the May 4, 1981, policy of nonintervention in exchange markets and by reaffirming the principles of responsible exchange-market stewardship agreed to at the Williamsburg economic summit.