Bloomberg does this interview with US Treasury Secretary Jack Lew at the Financial Inclusion forum in which he talks about the US dollar, China, and other topics. Below are a couple of quotes and bullet points from the interview.
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"Treasury Secretary Jacob J. Lew said the U.S. intends to ensure the dollar stays the world’s leading reserve currency a day after the International Monetary Fund elevated the Chinese yuan into a basket alongside the dollar, euro, yen and pound.
The dollar “remains the reserve currency of the world for a good reason,” Lew said in a Bloomberg Television interview Tuesday in Washington when asked if the U.S. would consider converting any of its foreign-exchange reserves to yuan. “We’re determined to run a U.S. economy that continues to be a strong, safe and secure economy that makes that the case in the future.”
Bullet Points from the interview:
- Reasons why we need better financial inclusion ( a topic we have covered here)
-Government and private sector have to partner to assist financial inclusion
-Mentions mobile money using cell phones as one way to increase financial inclusion
-Says Dodd-Frank has "reduced the risk" of another financial crisis but may need adjustment to help small banks
-The US expects the dollar to remain the worlds top reserve currency
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