US Commerce secretary: Fed policies boosting US dollar

WASHINGTON (Aug 20) - Commerce Secretary Wilbur Ross said on Monday that the Trump administration was not happy with how Federal Reserve monetary policy was helping the U.S. dollar stay strong.

Asked on Fox Business Network whether a strong dollar would adversely affect the economy, Ross said, “We’re very upset about the portion of the strength of the dollar that’s due to monetary policy by the Fed.”

The Trump administration has been pushing the Fed to lower interest rates.

REUTERS

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