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Tuesday, April 26, 2011
Geithner vows to defend strong US dollar policy
Editor's Note:
Today in opposite world....
© AFP/Getty Images/File Brendan Smialowski
AFP
NEW YORK (AFP) -
US Treasury Secretary Timothy Geithner vowed Tuesday that the United States would never follow a strategy to weaken the US dollar.
"Our policy has been and will always be, as long as I will be in office, that a strong dollar is in the interest of the country," Geithner said at a New York conference organized by the Council of Foreign Relations.
"We will never embrace a strategy to weaken the dollar."
It was the first time this year that Geithner had publicly proclaimed a US strong-dollar policy, a mantra of treasury secretaries for more than a decade.
In the year to date, the dollar has lost 6.5 percent of its value compared with a basket of currencies held by its major trade partners.
© AFP
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Published at Activist Post with license
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