Summers criticizes BOJ intervention as UK economic policy weakens pound against dollar – Bloomberg

The former Secretary of the Treasury of the United States, Summers, on Thursday criticized the economic policies adopted by the new British Prime Minister, Truss, creating an environment where the pound was below the average with the dollar.

“I’m very sorry, but the UK is acting as an emerging market that is starting to sink,” Summers told Bloomberg Television. “Britain’s exit from the European Union, the Bank of England is behind, and now all this fiscal policy, the UK will be remembered for following the worst macro-economic policy not seen in a large country for a long time. ,” he said.

Big UK tax cuts since 1972, 25.5 trillion yen in 5 years – sell to the pound (1)

pound exchange rate

Source: Bloomberg

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Former US Treasury Secretary Summers speaking on UK fiscal policy

Source: Bloomberg

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