Posted on 11/04/2010 11:05:32 AM PDT by Cheap_Hessian
BRASILIA/SEOUL (Reuters) - Policymakers from the world's new economic powerhouses in Latin America and Asia on Thursday criticized the U.S. Federal Reserve's move to inject billions of dollars into the U.S. economy to boost growth.
Emerging market economies said the Fed's move made any substantive deal on cutting global economic imbalances less likely at next week's Group of 20 meeting in Seoul.
Developing countries also threatened fresh steps to curb capital inflows which are pushing up their currencies against the U.S. dollar.
"Everybody wants the U.S. economy to recover, but it does no good at all to just throw dollars from a helicopter," Brazilian Finance Minister Guido Mantega said.
(Excerpt) Read more at finance.yahoo.com ...
Of course, that’s the first positive argument I’ve heard for doing it.
Am I brilliant or what.
--- B. Bernanke
I was being facetious. I forgot the /facetious warning!
;)
Third world countries complaining that only they can do third world style monetary moves.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.