Meirelles Says U.S. Stimulus Is ’Biggest Imbalance’

U.S. monetary stimulus and not the accumulation of reserves by emerging nations is creating the biggest imbalance in world economies, Brazil’s Central Bank President Henrique Meirelles said.

Developing countries that are building up foreign reserves “won’t assume the responsibility” for an imbalance of exchange rates, Meirelles told reporters today in Washington during the International Monetary Fund’s annual meeting.