MercoPress. South Atlantic News Agency
Bernanke replies to Brazil and IMF on rich countries monetary easing controversy
Federal Reserve chairman Ben Bernanke has defended the central bank's measures to bolster the US economy. Brazil has said US monetary easing to keep interest rates low and weaken the dollar has hurt emerging economies. And IMF chief Christine Lagarde warned on Sunday of consequent asset bubbles developing in emerging nations. Read full article
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Disclaimer & comment rulesBenny, mr no there is no inflation talking out of his ass as usual, similar as he blabbers about income in the US.
Oct 15th, 2012 - 11:16 pm - Link - Report abuse 0http://www.theatlantic.com/business/archive/2012/09/us-income-inequality-its-worse-today-than-it-was-in-1774/262537/
Júst a refléction of US's entreñced ínterests and capácity for self-decéption.
Oct 16th, 2012 - 09:59 am - Link - Report abuse 0This twat is in the pockets of the 'too big to fail' financial interests.
Oct 16th, 2012 - 03:00 pm - Link - Report abuse 0He does not report to the President and only twice a year to Congress on the Federal Reserve's monetary policy objectives. He has a remit to ‘meet with’ the Secretary to the Treasury.
He can do more or less what he likes and seems hell-bent on destroying the value of the worlds currencies to the detriment of everybody except the favoured few.
We blame our own incompetence in the others.
Oct 16th, 2012 - 03:35 pm - Link - Report abuse 0Nothing new about monetary easing, it used to be called printing money and caused inflation.
Oct 16th, 2012 - 06:50 pm - Link - Report abuse 0Done today for different reasons of course, but no different to central banks setting interest rates to control money supply.
What is different is that countries which have expanded exports on the basis of a more or less fixed (low value) currency against the dollar, are now struggling to export or maintain that artificially low value.
In a system of floating currencies (which we are supposed to have) where the economies of countries like China and Brazil improve compared to the US, a rise in the value of their currencies is inevitable, but has not been happening.
Developed economies are not the only ones trying to manipulate things to their own advantage here.
Fixed exchange rates don’t seem to work judging by Argentina’s experience of a, rainbow of rates.
Margaret Thatcher said “you can’t buck the markets” something Norman Lamont forgot.
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