Mnuchin Tells IMF He Expects A “Frank And Candid” Exchange Rate Analysis

With the Trump administration having gone radio silent in recent weeks on the issue of currency manipulation and whether it sees the dollar, or other currencies, as under- or over-valued, there was a notable if vague update from U. S. Treasury Secretary Steven Mnuchin who spoke to the IMF’s Managing Director Christine Lagarde on Tuesday and told her that he expects the IMF to provide “frank and candid” analysis of exchange rate policies.
There was no elaboration of what the apriori US stance was coming into the conversation.
The spokesperson said that in a phone call with Lagarde, Mnuchin also “noted the importance that the administration places on boosting economic growth and jobs in the United States, and looked forward to robust IMF economic policy advice on its member countries and tackling global imbalances.”

This post was published at Zero Hedge on Feb 21, 2017.