He initiated a new deal (3)

I believe the answer is:

fdr

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'he initiated a new deal' is the definition.
The answer is a person as well as being a singular noun. This is suggested by the definition.

This is all the clue.

Can you help me to learn more?

(Another definition for fdr that I've seen is " The old West Germany".)

I've seen this clue in The Irish Times.

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