Everyone wants to spend the other guy's money
When they say 'all available', they don't mean FX devaluation. But that's what they're going to get. Dark days are coming for US exporters.
The unnamed official spoke to the newswires ahead of the G20 summit. His other comments:
- Supports yuan in SDR if criteria met
- US to stress importance of FX commitments at G20
The US can jawbone about FX but if they're asking for measures to boost growth, it will start with central banks and QE. They US and Japan wrote the playbook and now everyone is going to follow it.
