Brazil Should Not Fear Fed Chief’s Comments, Says Lula

Brazilian President Luiz Inácio Lula da Silva said on Friday, May 26, that the market itself will regulate and find an appropriate exchange rate.

According to Lula, the Brazilian economy is solid, and the country should not fear the comments of the head of the United States Federal Reserve Bank.

Last week stock markets around the globe suffered losses after it was reported that the Federal Reserve will continue to raise interest rates to control inflation in the United States.

"Brazil has a solid economy. Brazil need not fear the comments of the head of the Federal Reserve Bank. We don’t have to worry about this, though obviously we must remain attentive."

ABr

Tags:

  • Show Comments (1)

  • Guest

    ????
    Then why did the Brazilian government and central bank bought dollars almost every day for many consecutive months ?

    Was it to let the market decide of the appropriate exchange rate ?

    Lula doesnt know what he is talking about, or just changes his mind just as he changes his shirt ! DAILY !

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil’s Varig Starts to Spread Wings Overseas Again with Six Agreements

Varig, Brazil's former flagship airline, which has started to emerge from the ashes after ...

Daniela Mercury

Brazil’s Mercury Rising

Daniela Mercury, the "Queen of Axé" broke into stardom at the beginning  of the ...

Brazil Gets Ready to Cash Its Carbon Credits

Alongside India, Brazil holds a leadership position in the Clean Development Mechanism (CDL) market, ...

Brazil’s Lula: ‘We Have the Resources to End Hunger’

This is World Food Week and the UN’s Food and Agriculture Organization is running ...

Brazil Favorite to Win World Cup Followed by Argentina

With the draw for the 2006 World Cup taking place today in Leipzig, Germany, ...

Movelsul: Brazil’s Last Word in Furniture Design

Brazilian furniture makers have been investing in machinery, design, human resources and management for ...

Brazil Recalls Diplomats Worldwide for Crash Course on Brazil Agriculture

Brazilian diplomats based in China, Japan, the United States, the European Union and the ...

Brazilian Currency Down 7% Over European Crisis Concern

The real, Brazil’s currency, fell earlier this week over concern Europe’s debt crisis may ...

Gathered in Brazil 5 Presidents Tell the US: “We Told You So”

Not all the action was in Switzerland. While bankers and politicians were meeting last ...

Another Brazilian Minister Bites the Dust Accused of Corruption

The wave of corruption shell shocking the Brazilian government reached Communications Minister Luiz Gushiken ...