By  on October 5, 2011

WASHINGTON — A showdown is brewing in Washington over legislation targeting China’s undervalued currency — and a possible trade war if the U.S. takes any action.

Tuesday became high noon in the dustup as Washington politicos and the chairman of the Federal Reserve all weighed in with opposing views while the People’s Bank of China raised the specter of a trade war, warning the U.S. government to refrain from intervening in their currency policies.

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