Mr. Bernanke avoided what was in many ways the elephant in the room: the value of the United States dollar. The dollar has dropped sharply in recent weeks against the euro and the Japanese yen, a move that has helped increase American exports by making them cheaper in some foreign markets. But the dollar has not budged in more than a year against China’s renminbi, which the Chinese continue to tightly manage and which many economists say remains greatly undervalued.Read more here.
Wednesday, October 21, 2009
Those are the words from Ben S. Bernanke (pictured), the chairman of the Federal Reserve and he also stated that the Asian nations were pulling the global economy out of its downturn.