Yellen’s wide-ranging comments on intervention in the store. Regarding the possibility of intervention in the yen exchange market:
-
Treasury generally understands that exchange rate fluctuations need to be smoothed out, but there is no need to influence the exchange level.
- Views on Japanese yen intervention depend on the situation
Japan is part of the G7 agreement not to take actions that manipulate its own exchange rates for profit. That’s why Chinese officials insist that the ultra-easy monetary policy, which currently weakens the yen against high-interest-rate countries such as the United States, is for domestic purposes and not for influencing the yen exchange rate. claims. Japan’s intervention to strengthen the yen could be seen as a violation of the G7 agreement. However, given the extent of the yen’s depreciation, this is not a strong argument at this point. Yellen is just being a little picky here.
And for other things,
- The imbalance between supply and demand in the US labor market has improved.
- China’s economic difficulties may spread to the United States
- Morocco is keen for the IMF and World Bank meetings to continue, and we want to be of service to the Moroccan people.
- With full employment, U.S. growth should slow to match potential
- Expect China to use policy space to avoid ‘significant’ slowdown
