Comprehensive Support for Dollar Policy
US Treasury Secretary Bessent emphasized on Friday that despite the recent depreciation of the dollar, the Trump administration remains firmly committed to supporting the US currency. He stated that a series of measures are being taken to enhance the global appeal of dollar assets.
Policy Initiatives Across Sectors
Bessent noted that the administration’s tax policies, trade strategies, deregulation efforts, and energy plans are all creating a more favorable environment for the dollar. These initiatives aim to ensure that the US remains the top destination for global capital.
Addressing Comments on Dollar Depreciation
When asked about Trump’s previous remarks calling the depreciation of the dollar a 'good thing,' Bessent clarified that the administration’s policy direction has always been to support a stronger dollar. He emphasized that Trump’s policies have been particularly effective in boosting the attractiveness of dollar assets.
Respect for the Federal Reserve
In addition, Bessent also addressed Trump’s comments regarding Federal Reserve chair nominee Kevin Warsh. He clarified that the president’s remarks were made in jest and reaffirmed the administration’s deep respect for the Federal Reserve and its independence.
- Tax reforms boosting capital inflows
- Energy policies reinforcing dollar strength
- Administration reaffirms respect for Fed independence