| Brazil’s finance chief attacks US over QE3 |
|
Guido Mantega, Brazil’s finance minister, has sharply criticised the US
Federal Reserve’s decision to roll out more quantitative easing as
protectionist, saying it would have little positive economic effect for
the US but potentially drastic consequences for the rest of the world,
including reigniting the “currency wars”. “It has to be understood that there are consequences,” Mr Mantega told the Financial Times in an interview on Thursday. The Fed’s QE3 programme would “only have a marginal benefit [in the US] as there is already no lack of liquidity . . . and that liquidity is not going into production.” Instead, it was depressing the dollar and aimed at boosting US exports, he said. http://link.ft.com/r/R5WAEE/ |
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Thursday, September 20, 2012
Brazil's finance chief attacks US over QE3
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