Category Archives: exchange rates

Mnuchin and Manipulation of Money

Share Button

(March 25, 2017) US Treasury Secretary Steven Mnuchin already finds himself hemmed in on all sides.

Domestic constraints come from the promises that he and President Trump have made and the laws of arithmetic.    How, for example, is he ever going to be able to reconcile the specific tax proposals that candidate Trump campaigned on with the promise of the “Mnuchin rule” that taxes won’t be cut for the rich? Continue reading

Share Button

Addressing Commodity Price Volatility in Algeria & Morocco

Share Button

(June 11, 2016) I recently visited Algeria and Morocco. Like so many other developing countries, they are dealing with the sharp decline in global commodity prices that has taken place over the last few years.  In meetings in Algiers and Casablanca, I offered four concrete ideas for policies to help commodity-exporting countries deal with global price volatility. Continue reading

Share Button

No, Japan Does Not Intervene in FX These Days

Share Button

(April 10, 2016) There has been recent speculation that the Japanese authorities might intervene to push down the yen. Continue reading

Share Button