Obama: Fed action not designed to weaken dollar
None
The US Federal Reserve's decision to pump $600 billion into the US economy was not designed to weaken the dollar but to give a boost to America's slow recovery, President Barack Obama said Friday.
Foreign economies have complained the infusion of cash will devalue the dollar and hurt their exports to the United States. Those complaints come as the US pressed China to stop its policies of keeping its currency, the yuan, weak. (AP)
