Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: loantech who wrote (30797)	5/26/2005 11:38:33 AM
From: mishedlo	Read Replies (1) of 116555

CEA nominee Bernanke: China must move to flexible yuan [This clown is truly dangerous - Mish] Wednesday, May 25, 2005 2:47:53 PM afxpress.com WASHINGTON (MarketWatch ) -- China should move quickly to a more flexible exchange rate, said Ben Benanke, the governor of the Federal Reserve Board who is being nominated by President Bush to become chair of his Council of Economic Advisors. A more flexible exchange rate was part of the solution to the massive U.S. current account deficit, he said. Benanke said there would be a measurable impact on U.S. interest rates if China stopped purchasing U.S. Treasuries, but said the impact would not be so large as to be dangerous to U.S. financial markets

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