China Devalues Currency, Treasury Does Nothing, Senators Cry Foul
State Department officials and financial regulators shrugged their shoulders in response to the Tuesday devaluation of China’s currency, as top lawmakers urged the administration to sanction Beijing. State Department spokesperson Mark Toner said Tuesday afternoon that “we have seen progress” in China’s orientation toward letting foreign exchange markets determine the value of the yuan, while an unnamed Treasury Department spokesperson told The Wall Street Journal that it was “too early to judge” the move. “China has indicated that the changes announced today are another step… Keep Reading