U.S. Cash 'Flood' Takes Center Stage at G-20 Summit

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President Barack Obama is in Seoul, South Korea for the G-20 economic summit and he's going to hear plenty of criticism about the Federal Reserve and its policy of printing money.

President Obama hoped to use the two-day summit to push the world's leading economic powers to curb global trade imbalances.

However, the main topic of conversation so far has been a recent move by the Federal Reserve to inject $600 billion into the economy. This means the Fed is essentially printing money and buying up much of the debt as away to bolster the U.S. economy.

Several G-20 countries, including Russia, China, Germany, and Brazil, have criticized the move. One fear they have is that it will drive the dollar down in value, which would create still more problems for the international economy.

The Fed believes printing more money is necessary to strengthen the U.S. economy -- by helping to bring it out of the housing crisis.

Yet, some critics said countries like China are being hypocritical, because they've also had an easy money policy for years. That keeps their own currency cheap, and that make it easier for them to buy American investments, like Treasury securities.

Another problem is countries like China and Japan are running huge trade surpluses, while the U.S. is running a trade deficit - something the president would like to change.

However, China said it doesn't want the G-20 to focus on its policies. Also, the U.S. is not likely to push the subject very hard.

Instead, the Federal Reserve's printing money is likely to be the primary topic at the summit. One Chinese rating agency has downgraded American securities.

That's just another one of many criticisms the U.S. is likely to face this weekend in Seoul.

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