Federal Reserve Chairman Acknowledges China Currency Policy as a Subsidy at Senate Hearing
During the question and answer portion of a July 21, 2010 Senate Banking Committee hearing on the Federal Reserves Semiannual Monetary Policy Report to Congress, the press reports that Federal Reserve Chairman Bernanke stated that, broadly speaking, China's currency policy…
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is a type of subsidy, noting that the literature has reported its value at 10-30%.