At a Foreign Policy Association event in April 2010, former Brazil Central Bank President Arminio Fraga gave a rather intoxicating assessment of global central bank stimulus efforts to stem economic crisis. Fraga asked each audience member to imagine a night when he or she may have gotten ridiculously drunk. A rather tiring, hungover morning […]
“We’re in the midst of an international currency war,” declared Brazil’s Finance Minister, Guido Mantega, this past Monday. Minister Mantega was referring to Brazil’s ongoing struggle to maintain a competitive exchange rate for its exports as other developing nations aim for the same. Although most analysts have recognized the “currency war” for some time, Minister Mantega’s […]