[Levin]

October 17, 20226:03 AM GMT+8Last Updated a day ago
By Leika Kihara


WASHINGTON, Oct 16 (Reuters) - Japan and other countries facing the fallout from a soaring U.S. dollar found little comfort from last week's meetings of global finance officials, with no sign that joint intervention along the lines of the 1985 "Plaza Accord" was on the horizon.

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U.S. Treasury Secretary Janet Yellen made clear that Washington had no appetite for concerted action, saying the dollar's overall strength was a "natural result of different paces of monetary tightening in the United States and other countries."

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With no current U.S. interest in engineering that kind of deal, other countries have to find ways to mitigate the pain stemming from a strong dollar, which has forced some emerging economies to hike interest rates to defend their currencies even at the cost of cooling economic growth more than they want.


More at: https://www.reuters.com/markets/asia/g7-...022-10-16/

[cityhantam]

U.S. Treasury Secretary Janet Yellen made clear that Washington had no appetite for concerted action,.... 

In other words, "You die, your problem!" 

[maxsanic]

October 17, 20226:03 AM GMT+8Last Updated a day ago
By Leika Kihara


WASHINGTON, Oct 16 (Reuters) - Japan and other countries facing the fallout from a soaring U.S. dollar found little comfort from last week's meetings of global finance officials, with no sign that joint intervention along the lines of the 1985 "Plaza Accord" was on the horizon.

......

U.S. Treasury Secretary Janet Yellen made clear that Washington had no appetite for concerted action, saying the dollar's overall strength was a "natural result of different paces of monetary tightening in the United States and other countries."

......

With no current U.S. interest in engineering that kind of deal, other countries have to find ways to mitigate the pain stemming from a strong dollar, which has forced some emerging economies to hike interest rates to defend their currencies even at the cost of cooling economic growth more than they want.


More at: https://www.reuters.com/markets/asia/g7-...022-10-16/

Logically speaking, the US is not wrong in insisting on its own course of action. It is already struggling to bring down inflation and faces  a host of its own economic challenges, Janet as a US cabinet minister is obligated to do whatever she can to help navigate the US through such turbulent times.

The rest of the G6 countries are the ones who have unrealistic expectations - what they mean by cooperation and concerted action is nothing more than a demand/expectation that US should imperil its own well-being by abandoning its own policies in order to bail them out of their own mess.

[Levin]

U.S. Treasury Secretary Janet Yellen made clear that Washington had no appetite for concerted action,.... 

In other words, "You die, your problem!" 

I guess that's what happens. I wonder what the rest of the G7 are thinking now since they once helped US back in the 1980s to weaken the US dollar at US' request.

[teaserteam]

least worried.  Dollars will come down when Fed reduce the Fund rate.  Fed will reduce the Fund rate when US falls into recession. Oil,  Baltic dry index r falling more than 20% into the bear market.  Gold is stubbornly low,  meaning no recession in sight. 

Market is presently looking for signs of recession with hope that Fed would reduce rate. Now waiting for US yield to fall b4 entering the market.

[Manthink]

...U.S. Treasury Secretary Janet Yellen made clear that Washington had no appetite for concerted action, saying the dollar's overall strength was a "natural result of different paces of monetary tightening in the United States and other countries."

More at: https://www.reuters.com/markets/asia/g7-...022-10-16/

Basically US just told its G7 buddies to go F*CK OFF...HA !

With "friend" like that, who needs enemy ?

[Manthink]

least worried.  Dollars will come down when Fed reduce the Fund rate.  Fed will reduce the Fund rate when US falls into recession. Oil,  Baltic dry index r falling more than 20% into the bear market.  Gold is stubbornly low,  meaning no recession in sight.   Market is presently looking for signs of recession with hope that Fed would reduce rate.  Now waiting for US yield to fall b4 entering the market.

Simple really - US mid-term election is just next month in Nov. No way Biden, nor the demo/republicans gonna allow American inflation to influence their winning chance. Problem is today, other than the USD, Washington has little influence on other resources like energy  from crude oil to LNG market.
That's why Nord Stream pipelines kenna blew up after sanctions fail to crash the Russian Ruble.

So the question isn't about G7 agreeing with anything...Ultimately it is the US that calls the shots at the G7. Like it or not.

Need US help ? Other than US, UK and Japan, rest of G7 members depend on Russian gas...Why would Washington give a damn if it blew up ?

[Manthink]

I guess that's what happens. I wonder what the rest of the G7 are thinking now since they once helped US back in the 1980s to weaken the US at US' request.

They only wanna help themselves. But does the G7 members have the choice ?
Whenever their "boss" speaks, rest can only stay diam diam and listen to his order.
In short, the G7 hierarchy is clear - they are supposed to put US interest FIRST.

[singlon]

QE era has ENDED
u need to use ur tongue and trick others while u QE
once whales catch on they unload
dat brutal only one shark fat and sleepy remains