China Is Already Doing Janet Yellen's Job for Her

Has China's Yuan Move Put Global Rate Hikes on Hold?

A strong currency has created headwinds for the U.S. economy through a range of channels. Latest actions of the Chinese central bank will intensify the negative impact by fostering more dollar appreciation. The U.S. already runs a significant trade deficit with China, and a 1.9 percent yuan devaluation announced Tuesday will further exacerbate it.

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