U.S. Treasury Denies China Adviser Geithner Conversation

BEIJING (MNI) – The U.S. Treasury Department has denied that
Secretary Timothy Geithner discussed the likelihood of another round of
quantitative easing with a Chinese government adviser.

“The Secretary doesn’t comment on monetary policy. He made no such
statement,” a Treasury spokesperson said.

Li Yang, vice-director of the Chinese Academy of Social Sciences,
said at a forum here that Geithner told him Wednesday that the Federal
Reserve doesn’t have the “tools or ammunition” for another round of
quantitative easing.

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