Republican presidential candidate Mitt Romney is accusing China of being a ‘currency manipulator’ and is attacking Barack Obama for not taking measures against the Chinese. Meanwhile, Romney is silent on the actions of the Federal Reserve which acts as the US central bank and manipulates the amount of dollars in circulation and sets interest rates. In fact, this is precisely what all central banks do – they determine fiscal policy. Kasie Hunt has the story for the Associated Press:
Mitt Romney is attacking the Obama administration for delaying a decision about whether China is manipulating its currency to gain a trading edge.
…The GOP presidential nominee says that on his first day in office, he’ll brand China a “currency manipulator” and work to end what he calls Beijing’s cheating practices on trade.
He says “it’s got to stop.”
Romney says President Barack Obama has failed to hold China accountable and as a result, the U.S. has lost jobs.
Where are Romney’s calls to abolish the US Federal Reserve? If he is against ‘currency manipulation’ in general he could, if elected, actually do something about ending this practice in the United States rather than just attacking it in other countries.