Heterodox
The vast majority of economists believe that the Fed's asset holdings keep down U.S. interest rates. It is inconsistent to believe that the Fed's holdings of U.S. assets keep down interest rates here, but China's holding of foreign assets does not keep down the value of its currency. Beat the PressDoes China's 2.5 Percent Inflation Rate Really Explain the Decline in the Value of Its Currency Against the Dollar?Dean Baker | Co-director of the Center for Economic and Policy Research in...
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