Plunge Team


Also found in: Dictionary, Thesaurus, Encyclopedia.

Plunge Team

A working group of U.S. government officials constituted to maintain efficiency and stability in the financial markets. It was established by President Ronald Reagan in 1988 and consists of the Secretary of the Treasury, the Chairman of the Federal Reserve, the Chairman of the SEC, and the Chairman of the Commodity Futures Trading Commissions. The Plunge Team exists to coordinate actions of the U.S. government to deal with challenges to the American economy. It is also called the Working Group.