Geithner: Yuan Should Rise Gradually, Significantly
Author: Darrell A. Hughes</br></br>WASHINGTON--Treasury Secretary Timothy Geithner said the U.S. wants to make sure the yuan appreciates "at a gradual but still significant rate."</br></br>Mr. Geithner, according to a transcript of an interview on the Charlie Rose talk show, noted that China allowed its currency to rise by a significant amount--about 2.5%--over the previous six weeks.</br></br>But U.S. officials would prefer for China to continue to let the value of its currency rise to reflect market forces, Mr. Geithner said.</br></br>"What we want to do is to maximize the incentives they have to let that process go as far as it needs to go," Mr. Geithner said. "I'm very confident over time that this is going to happen," he added.