NY Fed's Geithner says flexible rates better

Federal Reserve Bank of New York president Timothy Geithner said on Friday 4 May in a speech that flexible exchange rates allow emerging countries to handle global economic swings better.

Geithner said that transitions toward more malleable currency regimes were sometimes painful, however.

But in the end they are ultimately worth it, he said.

"The only realistic choice for policy-makers is to equip their economies with the flexibility to cope more successfully in this increasingly integrated global

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