Geithner Heats Up Election-Year Trade War Rhetoric

Is there a worse currency manipulator on the planet than the Fed? Just look at the USD! It's devaluation is a direct consequence of Fed policy, both in its artificial suppression of market interest rates and its quantitative easing!

WSJ:

WASHINGTON—China's undervalued currency is triggering an international currency war that risks undermining the global economic recovery, U.S. Treasury Secretary Timothy Geithner said Wednesday.
"When large economies with undervalued exchange rates act to keep the currency from appreciating, that encourages other countries to do the same, and this sets off a dangerous dynamic," Mr. Geithner said.
He addressed two issues—exchange rates and fiscal strategies—expected to take center stage in ministerial meetings around the International Monetary Fund's annual gathering this week and ahead of the Group of 20 summits in coming weeks.
Mr. Geithner said more countries face stronger pressure over time to resist market forces pushing up the value of their currencies. The collective impact, the treasury secretary said, causes inflation and asset bubbles in emerging economies or else depressed consumption growth.
The U.S. House of Representatives has passed legislation that would slap tariffs on Chinese imports, while the head of the European Central Bank warned that the strong euro was threatening already anemic growth there.