President Trump and Treasury should have had more discussions before declaring China a currency manipulator, says Sarah Bloom Raskin.
In a statement, the Treasury blasted the "implausibility of China's market stability rationale," saying Monday's devaluation was "to gain unfair competitive advantage in international trade."
For Tuesday, China set its currency at a stronger level, below the key 7-yuan-per-dollar threshold, while"China knows exactly what it's doing here," said Raskin, in a " " interview. "It's telling us that it knows that this tool that is has ... it can use this both as a tool and a sword," in the ongoing U.S.-China trade war.
Raskin, currently a senior fellow at Duke University, was at Treasury and the Fed during former president
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