Obama Lectured by Socialist at White House
Brazilian President Dilma Rousseff complained about U.S. monetary policy and expressed concern that sanctions against Iran could backfire in a meeting with President Barack Obama on Monday, highlighting strains between the Western Hemisphere’s two biggest democracies.
Rousseff said low interest rates and other expansionist policies in wealthy nations have created a glut of global liquidity, which in turn has the unintended effect of damaging growth in poorer countries such as Brazil.
She also raised concerns with Obama that sanctions against Iran could fuel tensions in the Middle East and cause a spike in oil prices, threatening the global economic recovery, sources told Reuters on condition of anonymity.
Her comments punctuated a generally cordial White House visit that yielded some modest advances in cooperation on aviation and technology sharing, but also exposed clear differences on trade, economic policy and foreign affairs.