BERLIN (MNI) – German government members over the weekend renewed
their attacks on the U.S. Federal Reserve for its new round of
quantitative easing, arguing that it was an indirect manipulation of the
dollar’s foreign exchange rate.
“The expansive monetary policy of the US is worrying me because an
excessive increase of money supply is also an indirect manipulation of
the dollar rate,” German Economics Minister Rainer Bruederle said in an
interview with German weekly Welt am Sonntag.
German Finance Minister Wolfgang Schaeuble told German weekly Der
Spiegel that “it doesn’t fit together when the US is accusing China of
foreign exchange rate manipulation and afterwards artificially pushes
down the dollar rate by printing money.”
The euro has risen markedly against the dollar due to the Fed’s
policy of pumping massive liquidity into markets.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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