by Mark Thoma, University of Oregon (Department of Economics)

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Rogoff: It's No Time for Oil Currency Hypocrisy from the US

Posted on June 04, 2008

Why is the U.S. sending inconsistent messages on exchange rate pegs?: It's no time for oil currency hypocrisy from the US, by Kenneth Rogoff, Project Syndicate: Does it make sense for US Treasury Secretary Hank Paulson to be touring the Middle East supporting the region's hard dollar exchange-rate pegs, while the Bush administration simultaneously blasts Asian countries for not letting their currencies appreciate faster against the dollar? Unfortunately, this blatant inconsistency stems from the United States' continuing economic and financial vulnerability rather than reflecting any c...

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china , currencies , currency , deficit , exchange rate , inflation , oil , treasury secretary