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Schumer's Reaction to Treasury's Currency Report Today

Date: Nov. 28, 2005
Issues: Monetary Policy


Schumer's Reaction to Treasury's Currency Report Today

Sen. Chuck Schumer, a member of the Senate Banking and Finance Committees, released the following statement in reaction to the Treasury Department's release of the Foreign Exchange Report (currency report):

"If it walks like a duck and quacks like a duck, it's a duck. The Chinese manipulate their currency and the Administration should not have ducked the issue. The Administration's lack of action today hurts all Americans by refusing to acknowledge the obvious - that China manipulates its currency. The first step in getting the Chinese to play fairly is for the Administration to be straight with the American people and say what they've said before --- China manipulates its currency. Their refusal to acknowledge reality and take the necessary corrective actions hurts every American."

http://schumer.senate.gov/SchumerWebsite/pressroom/press_releases/2005/PR42011.Solo%20China%20Currency.11.28.05.html

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