US Treasury's Lew (Ironically) Tells Japan: Stop Manipulating The Yen

Tyler Durden's picture

Despite Lagarde's call for more manipulation and money-printing from the world's central banks yesterday, US Treasury Secretary Jack Lew is not amused with his Japanese 'colleagues'. Speaking in Washington, Lew had plenty to say on Europe (not out of the woods), China (need to open markets more), and the IMF (US commitment remains solid - oh, apart from the funding part); but it was his entirely ironic comments aimed at Abe and Kuroda that were risible:

  • *LEW SAYS JAPAN NEEDS TO `GET THEIR DOMESTIC ECONOMY GROWING'
  • *LEW SAYS JAPAN CAN'T RELY ON FX RATE FOR ECONOMIC ADVANTAGE

Pot calling kettle black? Or a person who lives in a currency-war "glass-house" throwing stones? Pick your tortured analogy but the US hypocrisy continues.

 

He had plenty to say...

G-20...

  • *LEW SAYS U.S. COMMITMENT TO IMF REMAINS SOLID
  • *LEW SAYS A G-20 FOCUS OF HIS WILL BE INTL FINANCIAL STANDARDS

Japan...

  • *LEW SAYS JAPAN CAN'T RELY ON FX RATE FOR ECONOMIC ADVANTAGE
  • *LEW SAYS JAPAN NEEDS TO `GET THEIR DOMESTIC ECONOMY GROWING'

China...

  • *LEW SAYS CHINA IS CONCERNED WITH PACE OF ECONOMIC CHANGE
  • *LEW SAYS CHINA’S GOAL SHOULD BE TO OPEN MARKETS
  • *LEW SAYS FX AND OTHER REFORMS ARE GOOD FOR CHINA’S ECONOMY
  • *LEW SAYS CHINA IS INTENT ON PATH OF ECONOMIC REFORM

Europe...

  • *LEW SAYS SOME EUROPEAN NATIONS NEED TO DO MORE TO BOOST DEMAND
  • *LEW SAYS EUROPE NEEDS TO GET GROWTH TO HIGHER LEVEL
  • *LEW SAYS EUROPE IS NOT COMPLETELY OUT OF THE WOODS

US...

  • *LEW SAYS LATE-FEB. IS TIME TO FOCUS ON RATHER THAN EARLY MARCH
  • *LEW SAYS WAITING UNTIL LAST MINUTE ON DEBT CAUSES DAMAGE
  • *LEW SAYS CONGRESS SHOULDN'T PLAY GAMES WITH GOVT PAYMENTS
  • *LEW SAYS CONGRESS IS GOING TO HAVE TO ACT ON DEBT CEILING
  • *LEW SAYS 2014 STARTS WITH CONFIDENCE ECONOMY TO DO BETTER