Turkey has some similarities with the Asian crisis countries back in the 1990s, but also important differences. When emerging-market crisis typologies are updated to reflect the events of 2018, Turkey should enter into the pantheon on its own, not just as a sub-category of “Asian-style” crises.
The IMF’s reserve metric tends to overstate the reserve needs of current account surplus countries with little external debt, and understates the reserve needs of current account deficit countries with lots of external debt.
The role of the Federal Reserve has transformed in the past decade, as it has deployed trillions of dollars to boost the U.S. economy while expanding its regulatory oversight of the nation’s financial system.
The Treasury's April foreign exchange report should be interesting.
Thailand hasn't been included in past foreign exchange reports. Yet it is likely to meet all three of the criteria set out in the Bennet Amendment for a finding of "manipulation."