Bernanke Equally Handy With Paintbrush, Printing Press
The G-20 meeting wraps up in Seoul today with little more to solve currency devaluation than a 30-page report. In it, the Group of 20 proposes that the IMF help the situation by offering guidance toward more market-determined exchange rates… not exactly a sure-fire plan.
All the while, President Obama played his expected role, blaming China for manipulating the yuan as most other nations were more inclined to level criticism against the US’ own monetary shenanigans. The US was the proverbial pot calling the kettle black, and in the unilateral fashion that seems reminiscent of a previous presidency, the US once again goes it alone.