Mark Sobel
@sobel_mark
Former US Treasury/US rep IMF; US Chairman OMFIF; Non-Res Senior Advisor CSIS
730 Following 10.6K Followers
Is this a joke?
The RMB is super undervalued, a major cause of China's excessive exports. The PBOC has only allowed slow RMB appreciation. It should rise far more quickly.
Putting brakes on RMB appreciation is a wrong step that should be met with international criticism.
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Great Lingling Wei piece featuring very thoughtful Michael Pettis comments on the Chinese banking system and losses, a veritable 🐚🎮.
If Warsh talks hawkish, raises expectations & then doesn’t deliver, is there a risk he’ll shoot his credibility at the start of his tenure, look like a Trump acolyte & get punished by the markets? Would a hike perhaps be more helpful than a hold in bringing long rates down?
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