when is currency manipulation not currency manipulation ?

Show me a country that doesn't manipulate its currency and i'll show you a third-world country.


every one knows that China does it. but the PRC is an amateur as compared to the Japanese.

• to use a sports analogy
  • PRC is to a NBA team that makes trades w another team, Japan is to one that makes 3-team trades.

the EU has also done it, the most recent eg has triggered this from the twitterer in chief

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but he is also pressuring his Fed Chair to follow the same monetary path

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https://www.wsj.com/articles/fed-to...epo-transactions-in-several-years-11568729757

Fed Intervenes to Curb Soaring Short-Term Borrowing Costs​

For first time since 2008 the central bank injects funds
into money markets after a sudden shortage of cash
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For the first time in more than a decade, the Federal Reserve injected cash into money markets Tuesday to pull down interest rates and said it would do so again Wednesday after technical factors led to a sudden shortfall of cash.

The pressures relate to shortages of funds banks face resulting from an increase in federal borrowing and the central bank’s decision to shrink the size of its securities holdings in recent years. It reduced these holdings by not buying new ones when they matured, effectively taking money out of the financial system.



the central bank injecting cash into money markets to pull down interest rates is a classic eg of currency manipulation;
another one has been the QE implementation

 

The Federal Reserve added a fourth dose. > $50 Billion, of liquidity to a vital corner of the funding markets
since Sept. 19, helping rates retreat further;

a textbook case of currency manipulation​

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The latest addition of liquidity — with the Fed making clear it’s ready to do more as needed — has been another attempt
to manipulate the nation's money supply in order to quell money-market stresses.

The operations have calmed the funding market, with repo rates declining to more normal levels
after soaring to 10% on Sept. 17, four times last week’s levels.​

https://www.wsj.com/articles/fed-ad...system-in-latest-repo-transaction-11569589604

 

btw, u forgot Japan; the top 3 holders of US debts are China, Japan and Germany.

for exporting countries, that is the main reason for manipulating their currencies

 

Temporary fix / manipulation will be replaced by a more permanent program, just don't call it QE
nor manipulation


on Oct. 08, 2019.

Federal Reserve chairman Jerome Powell, speaking in Denver on yesterday, said the nation's central bank
was ready to boost its balance sheet again to address a cash crunch in the financial system.






https://www.washingtonpost.com/busi...-buy-more-treasury-bonds-soon-this-is-not-qe/​

 

when is currency manipulation not currency manipulation ?

when some intellectually dishonest media members frame it as QE,
leading to some posters to start this thread, "is QE forever sustainable?",
http://bbs.clutchfans.net/index.php?threads/qe-forever-sustainable.302980/

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never mind that in the Dec 2019 Fed testimony to Congress, the Fed chair emphasized that
it will keep its benchmark rate in a target range of 1.5%-1.75% as expected.

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