Fed Doesn't Care About Dollar? Minutes Show Greenback Fixation
- September Fed meeting minutes refer to greenback 24 times
- Currency's gains hold down inflation, restrain exports
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The Federal Reserve says it leaves the dollar policy to the Treasury. Yet the latest minutes show Chair Janet Yellen and her colleagues can’t stop talking about the currency’s strength.
Policy makers referred to the greenback 24 times in the minutes from the Federal Open Market Committee’s latest meeting on Sept. 16 and 17, when they decided to keep interest rates near zero. That’s up from 12 mentions in the July FOMC minutes, 13 in June, 12 in April, and 10 in March.