Lew Says U.S. to Ensure Dollar Remains Top Reserve Currency
- U.S. to hold China to its pledge to avoid unfair FX policies
- Lew also cautions against rolling back Dodd-Frank regulations
Jack Lew: Families Need Simple Financial System Access
This article is for subscribers only.
Treasury Secretary Jacob J. Lew said the U.S. intends to ensure the dollar stays the world’s leading reserve currency a day after the International Monetary Fund elevated the Chinese yuan into a basket alongside the dollar, euro, yen and pound.
The dollar “remains the reserve currency of the world for a good reason,” Lew said in a Bloomberg Television Tuesday in Washington when asked if the U.S. would consider converting any of its foreign-exchange reserves to yuan. “We’re determined to run a U.S. economy that continues to be a strong, safe and secure economy that makes that the case in the future.”