Lew Signals Potential Flexibility On Currency Manipulation Demands, Schumer Blasts Proposals

UPDATED: Treasury Secretary Jack Lew on April 16 indicated he is willing to consider supplementing his department's twice-yearly report on foreign exchange rate policy with new “objective” criteria that could trigger additional administration actions if foreign trading partners meet that new standard for currency manipulation. Lew testified to the Senate Finance Committee that these criteria could include a significant bilateral trade surplus with the United States, a "material" current account surplus, and persistent, one-sided intervention in the...