Joseph Stiglitz To Obama: The Fed's Dollar Policy Is Hurting Other Nation's

01/11/2011 05:12 am ET | Updated May 25, 2011
  • Alex Frangos WSJ

Nobel Prize-winning economist Joseph Stiglitz, dismissing the Federal Reserve's quantitative easing as a "beggar-thy-neighbor" strategy of currency devaluation, called on America to learn the art of stimulus from China.

President Barack Obama has defended the Fed's controversial program, telling the world that a fast-growing America is good for the world economy. But Mr. Stiglitz, in comments at a conference in Hong Kong on Thursday, charged that quantitative easing, by leading to a weaker U.S. dollar, in fact steals growth from other economies.

Read more on WSJ