US Treasury Secretary Supports Strong Dollar and Maintains Current Debt Issuance Plans
US Treasury Secretary Scott Bessent supports a strong dollar and will retain current debt issuance plans, countering concerns from President Trump about the dollar's value affecting exports.
US Treasury Secretary Scott Bessent has expressed his support for a strong dollar and confirmed that he has no intentions of changing the government's debt-issuance strategy. This stance marks a cautious approach toward financial markets amidst a broader landscape where the current administration is rapidly changing established norms.
During the recent election campaign, President Donald Trump voiced his concerns over the dollar's strength, arguing that it makes American goods more costly in international markets. Additionally, Bessent criticized the debt strategies implemented by his predecessor, Janet Yellen. He stated that Yellen was financing the deficit with a significant amount of short-dated debt, which he believes was aimed at alleviating pressure on long-term interest rates and stimulating the economy.
