Talks between the U.S. and China next month will assess shifting fortunes of the world’s two largest economies, as America emerges from a slump and Asia’s main engine of growth confronts fresh challenges, the U.S. Treasury Department’s top international official said.
The U.S. and its allies need to provide long-term support to Egypt, Tunisia and other nations undergoing political transitions, said Lael Brainard , the Treasury Department’s undersecretary for international affairs.
The U.S. Treasury Department’s top international official said European officials deserve credit for restoring financial stability and must shift quickly to spurring domestic demand to avert a prolonged economic slump.
Countries around the world need to work more closely together on foreign exchange policies and financial supervision, said Lael Brainard , the U.S. Treasury’s undersecretary for international affairs, speaking in Washington today.
The Group of 20 nations must avoid currency devaluations aimed at increasing competitiveness and promote more transparency in exchange rates, the U.S. Treasury Department’s top international official said.
Lael Brainard, a former U.S. Treasury undersecretary for international affairs, won Senate confirmation as a Federal Reserve governor along with Jerome Powell, while Stanley Fischer was approved as Fed vice chairman.