Dilma Rousseff, and her finance minister, Guido Mantega, are attacking the U.S.
Federal Reserve for aggressively buying bonds and driving the exchange rate of
the dollar down. This will hurt Brazil and other developing-country exporters,
Mantega says, and whats more, its meant to.
1.How does the purchase of bonds by the Fed
lower the exchange rate of the dollar? Explain.
2.What can the Central Bank of Brazil do to
prevent the Brazilian currency from appreciating relative to the dollar?
3.What will be the effect of this action
of the Brazilian Central Bank on the Brazilian economy?
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