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April 10, 2012

Brazilian President Criticizes U.S. Monetary Policy in White House Visit 
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President Obama welcomed Brazilian President Dilma Rousseff to the White
House Monday. Obama praised Brazil for its rapid economic growth.

President Obama: "It gives me an opportunity as well to remark on the
extraordinary progress that Brazil has made under the leadership of
President Rousseff and her predecessor, President Lula, moving from
dictatorship to democracy, embarking on an extraordinary growth path,
lifting millions of people out of poverty, and becoming not only a
leading voice in the region but also a leading voice in the world."

Brazilian President Dilma Rousseff criticized U.S. monetary policy
saying it has harmed Brazil and other developing countries. Rousseff
said the U.S. decision to leave benchmark lending rates near zero has
created an overload of speculative money that floods into economies like
Brazil.

Brazilian President Dilma Rousseff: "Such expansionist monetary policies
in and of themselves, is isolation, regarding the fiscal policies,
ultimately lead to a depreciation in the value of the currencies of
developed countries thus impairing growth outlooks in emerging
countries."



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