To: Moonman62
There was a bill in the Senate as recently as June 2007 to authorize the Treasury to intervene. Has it passed?
The Treasury doesn't have the money to intervene. Historically it has been the Fed that intervenes.
46 posted on
08/04/2008 11:48:56 AM PDT by
groanup
(Here, bend over and let me give you my carbon footprint.)
To: groanup; Moonman62
The Treasury, in consultation with the Federal Reserve System, has responsibility for setting U.S. exchange rate policy, while the Federal Reserve Bank New York is responsible for executing FX intervention.
Source
47 posted on
08/04/2008 11:52:21 AM PDT by
Toddsterpatriot
(Half the time it could seem funny, the other half's just too sad.)
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