ECB’s Holzmann Says Fed Is Gorilla in Room Thanks to Dollar

European Central Bank Governing Council member Robert Holzmann said the Federal Reserve’s sway over the world’s top currency give it an outsized influence that policymakers will take into account.

“To a certain extent, our data and decisions are naturally influenced by the Fed,” he told Handelsblatt in an interview published Wednesday. “We don’t operate in a vacuum. The Fed with the dollar is, figuratively speaking, the gorilla in the room.”