Treasury FXR struggles with realities of manipulation, DLT and the US payments system
Commentary: Currency manipulation realities
By Mark Sobel in Washington
Under the Bush and Obama administrations, foreign exchange reports didn’t label any country a currency manipulator. Yet, the US Treasury Department has just named Switzerland and Vietnam as such. While its latest FXR includes valuable analysis about responses to Covid-19, its mechanistic application of ‘enhanced analysis’ criteria leads to missteps in assessing harmful currency practices. The Yellen Treasury should modify this approach.
Read the full commentary on the website.
Meeting: DLT and the US payments system
Wednesday 13 January, 16:00-17:00 GMT
In August 2020, the Federal Reserve Bank of Boston, in collaboration with MIT, announced that it would research and test leading technologies to determine design requirements for a US-based CBDC. Jim Cunha, senior vice-president, secure payments and fintech, at the Federal Reserve Bank of Boston, discusses this initiative as well as the wider impact of DLT on the financial system. The meeting also covers national efforts to increase security and reduce payment fraud.
Request to attend the meeting.
