SF Fed's Yellen on the Asian financial crisis

In the speech 'The Asian financial crisis ten years later: Assessing the past and looking to the future' given on 6 February Janet Yellen of the Federal Reserve Bank of San Francisco said China's exchange rate policy should be more flexible in order to make it easier for China's central bank to slow the Asian giant's booming economy.

"The (Chinese) central bank has resisted pressures for more rapid appreciation of the renminbi by intervening in the foreign exchange market and building up its

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