Trichet Says Fed Move Wasn’t Aimed at Weaker Dollar
This article is for subscribers only.
European Central Bank President Jean-Claude Trichet, speaking on behalf of the world’s central bankers, said the Federal Reserve’s decision to buy more assets was driven by a desire to anchor inflation expectations, not to weaken the dollar.
“What I have noted as part of the consensus was the idea of a solid anchoring of inflation expectations that was inspiring the sister institution,” Trichet said at a briefing in Basel, Switzerland, today after chairing the Global Economy Meeting. “All participants mentioned the fact that they were not pursuing weak currency policies and that’s something that’s very important.”