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Yellen pressed to back strong U.S. dollar in reversing Trump-era tone
Saleha Mohsin and Liz Capo McCormick, Bloomberg News Janet Yellen, chair of the U.S. Federal Reserve, removes her glasses during a Joint Economic Committee hearing in Washington, D.C., U.S., on Wednesday, Nov. 29, 2017. Yellen, in what may be her last appearance before Congress as head of the central bank, described a steadily brightening picture for the U.S. economy while downplaying the risks of financial instability. , Bloomberg
Janet Yellen once touted the benefits of a weaker greenback for exports, but as the incoming Treasury secretary, she faces pressure to return the U.S. to a âstrong-dollarâ policy and may cause trembles on Wall Street if she doesnât.
Yellen pressed to back strong dollar policy in reversing Trump-era tone bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Yellen pressed to back strong dollar in reverse of Trump-era tone
The greenback’s tumble this year it’s heading for the second-biggest drop in the past decade has already stoked foreign policy makers’ concerns
December 21, 2020 5 MINS
Janet Yellen once touted the benefits of a weaker greenback for exports, but as the incoming Treasury secretary, she faces pressure to return the U.S. to a “strong-dollar” policy and may cause trembles on Wall Street if she doesn’t.
The greenback’s tumble this year it’s heading for the second-biggest drop in the past decade has already stoked foreign policy makers’ concerns, thanks to the competitive advantage it gives the U.S. Even a tacit endorsement of a weakening dollar could spur tensions with trading partners.