Clarida Says Policy Gridlock Largest U.S. Challenge

July 18 (Bloomberg) -- Richard Clarida, global strategic adviser at Pacific Investment Management Co., talks about Federal Reserve Chairman Ben S. Bernanke's congressional testimony this week, the outlook for Fed monetary policy and economic policy gridlock in Washington. He speaks with Erik Schatzker and Stephanie Ruhle on Bloomberg Television's "Market Makers." (Source: Bloomberg)

New Dawn for China as Yuan Joins Majors
16:34 - The IMF will add the yuan to its basket of reserve currencies, an international stamp of approval of the strides China has made integrating into a global economic system dominated for decades by the U.S., Europe and Japan. The yuan weakened in offshore trading amid speculation China’s central bank will rein in intervention. PBOC Deputy Governor Yi Gang said at a briefing the long-term goal is for very few interventions, adding that bigger two-way fluctuations are normal.
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