Mnuchin Says His Dollar Policy Isn't Aimed at Jawboning It Lower
- Davos comments ‘no way intended to talk down the dollar’
- Treasury chief responds to questions about confusing FX policy
Talk of a Weak Dollar Has Divided Opinion at Davos
This article is for subscribers only.
The U.S. currency policy used to be just a few words: A strong dollar is in the country’s best interest. It’s become more of a mouthful under Treasury Secretary Steven Mnuchin, who wonders why he’s misunderstood.
“Let me be very clear: I absolutely support a strong dollar as being in the long-term best interest of the country, and I strongly support -- we have a free currency market that we don’t intervene in and have relied upon the most liquid market in the world,” he said in testimony Tuesday to the Senate Banking Committee. “So the short term is not a concern of us.”