Central Banking

Bush adviser-Sept G7 FX intervention mistake-paper

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Lawrence Lindsey, the top economic adviser to U.S. President George Bush, was quoted on Feb 17 as saying intervention by G7 central banks last September to support the euro had been a mistake.The International Herald Tribune also quoted Lindsey as telling the newspaper in a telephone interview that U.S. Treasury Secretary Paul O'Neill shared his view that interventions should only be used in extreme cases.

"My personal views have not changed, and I believe that Secretary O'Neill has the same view

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