We're putting you on notice, Prime Minister Abe!
'The Japanese economy that now surrounds us is exceptionally good,' Abe said in his New York Stock Exchange speech, urging traders to 'buy my Abenomics.'
That's Bloomberg's Isabel Reynolds, quoting Japanese Prime Minister Shinzo Abe during his remarks to Wall Street traders yesterday.
To which we say: "Of course it's exceptionally good. You're manipulating your currency!"
In fact, it was a mere two days ago that a bipartisan group of 60 U.S. Senators signed a letter urging Treasury Secretary Jack Lew and U.S. Trade Representative Michael Froman to address currency manipulation in the Trans-Pacific Partnership trade negotiations, of which Japan is a party. The Senate letter mirrors a move made by 230 of their colleagues in the House back in June.
We hope the consensus on Capitol Hill is louder than the line Abe is selling. The former will create conditions conducive to more American manufacturing jobs, and the latter looks to take even more away.
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