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Report to Congress on International Economic and Exchange Rate Policies
Report

Report to Congress on International Economic and Exchange Rate Policies

U.S. Department of the Treasury Office of International Affairs
US Treasury, 2013
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Editorial Rating

8

Qualities

  • Comprehensive
  • Analytical
  • Overview

Recommendation

This semiannual report from the US Department of the Treasury assesses changes in the economic and exchange rate policies of the US’s 10 most significant trading partners. Trade with those economies accounted for “72% percent of US merchandise” imports and exports in 2012. The report finds that no major US trading partner is currently manipulating its currency against the dollar, and – in its most newsworthy aspect – it cautions any country that might consider such manipulation to improve its balance of payments or to gain trade advantages. The report focuses on the trade and capital imbalances that currently affect global economic growth. It’s region-by-region appraisal focuses on such topics as the euro zone’s imbalances and the need for China to be more flexible about its exchange rate. The report gets to its real core when it explains how governments can adjust their economic policies to achieve strong and sustainable growth. getAbstract recommends this authoritative analysis to global executives, bankers, currency managers and anyone intrigued by the US’s take on issues affecting global trade, finance and the economy.

Take-Aways

  • No US trading partner is currently manipulating its currency against the US dollar.
  • In the US, an improving housing market and increased business and consumer spending expanded domestic demand, offsetting the 2013 slowdown in government spending.
  • The world economy should see 3.6% growth in 2014, based on a recuperating euro area and a strengthening US, which remains “a pillar of support to the global economy.”

About the Author

The Department of the Treasury is the executive agency that promotes economic prosperity and ensures the financial security of the US. The Treasury is required to deliver semiannual reports covering the economic and currency policies of the US’s major international trading partners.

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