Richard Fisher, President and CEO, Federal Reserve Bank of Dallas, Speaks at Conference
Fed's Fisher welcomes China FX moves but caution needed
06/08/2012
Joseph Schuman,
Reuters
China's efforts to open its currency market will benefit the country and the world economy, but policymakers must be wary of risks from volatile international capital flows, a top Federal Reserve official said.
Richard Fisher, president of the Dallas Fed, told an event at the University of California, San Diego, that he did not believe the U.S. dollar's role as the key global reserve currency would be challenged any time soon.
But he said the euro - despite the currency bloc's current difficulties - and the yuan could eventually rival the U.S. dollar.
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The Internationalization of the Renminbi Conference, sponsored by IR/PS and the 21st century China Program, took place on June 7 - 8, 2012. Click for information about conference speakers and topics.
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