The dispute over Chinese exchange rate policy within the US has generated a series of legislative proposals to restrict the discretion of the US Treasury Department in determining currency manipulation and to reform the department's accountability to the Congress. This study reviews the Treasury's reports to the Congress on exchange rate policy????????????introduced by the 1988 trade act????????????and Congress's treatment of them. It finds that the accountability process has often not worked well in practice: The coverage of the reports has not provided a sufficient basis for congressional oversight. Nor has Congress always performed its own role well, holding hearings on less than half of the reports and overlooking important substantive issues. This book offers several recommendations can improve guidance to the Treasury, standards for assessment, and congressional oversight.