Today the Senate Banking Committee is holding a hearing to examine “the impact of China’s exchange rate practices on U.S. manufacturing”
Many experts will testify. I offer some pictures that might help.
1. Is China manipulating its currency? Yes:
Source: Yuan. Broad Dollar Index (Federal Reserve’s weighted average of exchange values of U.S. dollar against the currencies of 26 major U.S. trading partners.
2. Does this have an impact on American manufacturing? Yes.
Source: Bureau of Labor Statistics
Any questions?
