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Obama Sidesteps Question About Whether The Fed Is Intentionally Devaluing The Dollar

First Posted: 01/08/11 05:12 AM ET Updated: 05/25/11 07:10 PM ET

Obama Federal Reserve

AP:

NEW DELHI — President Barack Obama has sidestepped a question of whether the Federal Reserve may have weakened the value of the dollar by purchasing $600 billion worth of government bonds to aid the economy.

Obama noted at a news conference in New Delhi that the Fed "doesn't take orders from the White House," saying it would be inappropriate for him to comment directly on the action. The move last week aimed at making loans cheaper and getting consumers to spend more.

Read the whole story: AP

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Filed by Ryan McCarthy  |