ECB’s Villeroy Says Attacks on Fed Independence Undermine Dollar

The US administration’s criticism of the Federal Reserve threatens the US dollar’s role in the global economy, according to European Central Bank Governing Council member Francois Villeroy de Galhau.

“Some recent US policies have undermined some pillars of the dollar’s dominance by attacking the Fed’s independence, raising doubts as to US fiscal discipline, and imposing tariffs that diminish US integration with the global economy,” the French central-bank chief said Tuesday in Paris.