G7 warns of volatile values in currency

[Fargin Ice Hole]

BOCA RATON, Fla. — Officials from the USA and other major economic powers warned against wide swings in currency prices over the weekend but gave no sign they would attempt to stem the dollar's two-year fall.

Central bankers and finance ministers of the Group of Seven countries warned against "excess volatility" in currency values in a vague statement issued after their two-day meeting. Hosted by Federal Reserve Chairman Alan Greenspan and Treasury Secretary John Snow, the meeting brought together their counterparts from the G7 — Japan, Germany, Britain, France, Canada and Italy.

Snow said the officials had a "much more positive, upbeat" outlook for the global economy than at their meeting in September but said growth was still too slow and continued to be the top subject.

<http://www.usatoday.com/money/world/2004-02-08-g7-currency_x.htm>

[Guy Whitey Corngood]

1. What are the talking about?

Everything's just wonderful. Just keep on buyin'. Excuse me, I have to go now it's time for my prozak.....

[daleo]

2. Bush deficits have to show up somewhere

Some combination of falling dollar and higher interest rates. They will try to keep Greenspan from raising rates 'til November though.