Obama Criticizes China on Yuan, Praises Economic Team

President Barack Obama criticized China’s currency policy, praised his economic team and called predictions of a Republican takeover of the House of Representatives “premature.”

China’s leaders haven’t done “everything they said would be done” to allow the nation’s currency to rise in value, Obama said yesterday, echoing the views expressed by administration officials and lawmakers at congressional hearings last week. “What we’ve said to them is you need to let your currency rise,” he said in an hour-long town hall discussion on the economy broadcast on CNBC television.