Economics

Mnuchin Says President Trump Fully Supports Fed Independence

Trump isn’t trying to interfere in currency markets: Mnuchin
Treasury chief reiterates traditional strong-dollar policy

JPMorgan: The Fed Will Continue With Its Independence

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By Saleha Mohsin

July 21, 2018 at 12:19 PM UTC

Updated on

July 21, 2018 at 4:22 PM UTC

This article is for subscribers only.

U.S. President Donald Trump fully supports Federal Reserve independence and isn’t trying to interfere in foreign-exchange markets, Treasury Secretary Steven Mnuchin said Saturday.

Mnuchin tried to assuage investor concern a day after Trump said a stronger dollar and rising U.S. interest rates were undermining America’s competitive advantage. The secretary was speaking to reporters at the Group of 20 nations summit in Buenos Aires.