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Currency action is a distraction, Brazilian economic outlook

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Commentary: Currency action is a distraction

By Mark Sobel in Washington

Undoubtedly, the US current account deficit is attributable partly to harmful currency practices. The dollar’s function as reserve currency plays a role. But this deficit is also homemade. US macro policy can hardly be viewed as ideal, particularly the country’s large fiscal dissaving. CCI, in fostering the impression that the ‘excessiveness’ of the current account deficit – that portion not structurally rooted – is due to other countries’ foreign exchange practices, may well distract attention from solving ‘Made in America’ problems.

Read the full commentary on the website.


 Meeting: Brazilian economic outlook

Friday 12 July, New York, 9:00 EDT

The Brazilian economy faces a multitude of challenges due to political developments and the need for reform.

João Manoel Pinho de Mello, deputy governor for competition, financial market structure and authorisation at Banco Central do Brasil, will discuss Brazil’s economic outlook and threats to its financial system.

To request to attend the meeting, please contact enquiries@omfif.org.


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