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>> PHILADELPHIA Latest News

JAN 11, 2013 - Yahoo! News

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Fed official warns about slipping into currency wars

SOMERSET, New Jersey (Reuters) - A top U.S. Federal Reserve official waded into the sticky debate over global currency wars on Friday, warning that such beggar-thy-neighbor monetary policies would only hurt world trade and the economies that were involved. Philadelphia Federal Reserve Bank President Charles Plosser said central banks in many countries are adopting policies, often under pressure from governments, to control their currencies, calling it an unhealthy phenomenon. "We do not want to get ourselves in a world where you have currency wars. Beggar-thy-neighbor policies ... ...

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