Yellen Wants Currency Intervention to Be Rare and Well Flagged
- Treasury secretary briefs reporters before G-7 meeting
- Intervention shouldn’t be used ‘in any routine way at all’
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US Treasury Secretary Janet Yellen reiterated that currency intervention should be a seldom-used tool that officials give fair warning about when they resort to it.
Speaking in the Italian lakeside resort of Stresa, the former Federal Reserve chief — who was present in 2017 when the Group of Seven’s current formulation on exchange rates was devised — responded to a question on how countries like Japan can respond to the strength of the dollar.