Geithner Delays Chinese Currency Report
April 4th, 2010Via: Bloomberg:
U.S. Treasury Secretary Timothy F. Geithner delayed a scheduled April 15 report to Congress on exchange-rate policies, sidestepping a decision on whether to accuse China of manipulating the value of the yuan.
Geithner in a statement urged China to move toward a more flexible currency and said a series of meetings over the next three months will be “critical” to bringing about policy changes that lead to a stronger and “more balanced” global economy. The delay comes as Chinese President Hu Jintao is scheduled to visit Washington for a nuclear summit April 12-13.
