Frenkel Says a Currency War Would Damage the Global Economy

Jacob Frenkel, chairman of JPMorgan Chase International, said a currency war must be prevented at all costs, warning it would do great damage to the global economy.

Frenkel was speaking in an interview with Bloomberg Television after Treasury Secretary Steven Mnuchin endorsed the dollar’s decline as a benefit to the U.S. economy. The currency slid against its major peers on Wednesday.