WASHINGTON—Janet Yellen is expected to affirm the U.S.’s commitment to market-determined exchange rates when she testifies on Capitol Hill Tuesday, and she will make clear the U.S. doesn’t seek a weaker dollar for competitive advantage, according to Biden transition officials familiar with her hearing preparation.
The remarks would represent a return to the U.S.’s hands-off approach to the dollar, which President Trump had deviated from by often publicly calling for a lower dollar. Ms. Yellen, the former Federal Reserve chairwoman, is set to appear before the Senate Finance Committee Tuesday as it considers her nomination to be the next U.S. Treasury secretary, succeeding Steven Mnuchin.
If asked about the new administration’s dollar policy, officials responsible for briefing Ms. Yellen said she is prepared to say, “The value of the U.S. dollar and other currencies should be determined by markets. Markets adjust to reflect variations in economic performance and generally facilitate adjustments in the global economy.”
Ms. Yellen is also expected to say the intentional targeting of exchange rates to gain an unfair advantage in trade is unacceptable.
GeneralTheorist “As some day it may happen that a victim must be found I've got a little list — I've got a little list Of society offenders who might well be underground And who never would be missed — who never would be missed!”
And the markets are shifting along with international political shiftings. The should shift then .
Only two currencies at the moment above the rest , dollar and Euro are used as refuge and are at par in the market . Jealous zealots would like otherwise
Tuesday? Can’t do that, too busy having an impeachment trial.
While Uncle Joe is printing trillions?
Spoken like a true Fed Head there interplanet Janet.
If the US interest rates face the free market the US will be insolvent overnight. Who is she fooling? This just ain’t gonna happen. The Fed will do anything it has to do to keep interest rates as low as possible. The joke is on us.
Markets are controlled and manipulated by profit and propaganda.
The markets? Or the BRRRRRRR!?
In other words the dollar is expendable,expect high inflation and greater incomeand wealth disparity.
What determines it now?
The headline is really funny when you read Yellen as “yell’n”
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