Beranke says the Fed’s exit strategy is critically important to maintaining confidence in the US economy an the currency. He says he sees more urgency among G20countries to address imbalances now and that greater exchange rate flexibility would help address Asian asset bubble concerns.
The US financial regulatory system was overwhelmed by capital inflows ahead of the crash and did not handle them well. (A master of understatement, Bernanke is…)
EUR/US has pulled back to the 1.4940s from 1.4965 on the comments.
