Ben Bernanke suggests the nation is on track to end a major aspect of its economic rescue program. But in doing so, he opens up the prospect that China could have a greater impact on U.S. borrowing costs than the Fed itself.
The issue already has prompted the Chinese government to tell its agencies and banks to sell all but the most secure dollar-denominated assets. "The Chinese government has ordered its reserve managers to divest itself of riskier securities and hold only Treasuries and U.S. agency debt with an implicit or explicit government guarantee," Asia Times reported Tuesday.
For the complete report: Bernanke May Be On Collision Course With China - Business News - Portfolio.com
The issue already has prompted the Chinese government to tell its agencies and banks to sell all but the most secure dollar-denominated assets. "The Chinese government has ordered its reserve managers to divest itself of riskier securities and hold only Treasuries and U.S. agency debt with an implicit or explicit government guarantee," Asia Times reported Tuesday.
For the complete report: Bernanke May Be On Collision Course With China - Business News - Portfolio.com
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