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Trump Doesn’t Understand Currency Wars, Either

(Bloomberg Opinion) — What a difference a decade makes. Back in September 2010, Guido Mantega, Brazil’s then-finance minister, was complaining bitterly about “currency wars,” and claiming the Federal Reserve’s ultra-loose monetary policy of the time was unfairly hurting his economy. “We’re in the midst of an international currency war, a general weakening of currency,” he said then. “This threatens us because it takes away our competitiveness.” Fast forward to December 2019, and we have President Donald Trump’s latest furious denunciation of exactly the same thing — only this time, he says that Brazil (as well as Argentina) is being unfair. …read more […]

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UPDATE 1-FAA chief to testify at Dec. 11 U.S. House hearing on grounded Boeing 737 MAX

The head of the Federal Aviation Administration (FAA) will testify on Dec. 11 before a U.S. House panel on the agency’s review of the grounded Boeing 737 MAX, which was involved in two fatal crashes in five months. Administrator Steve Dickson will testify before the House Transportation and Infrastructure Committee, the committee and the FAA confirmed on Monday. Boeing has struggled to complete requirements necessary before it can win approval from the agency to resume flights, and U.S. officials told Reuters last week it is extremely unlikely, if not impossible, that the FAA will unground the plane before …read more […]