Janet Yellen Nominated for US Treasury Secretary[사진=AP·연합뉴스]
–
–
According to major foreign media such as Bloomberg on the 19th (local time), nominee Yellen said, “The US does not seek weak dollars to gain a competitive advantage.” “The value of the US dollar and other currencies is determined by the market.” It should be done,” he said. “We will try to stop all attempts by foreign governments to artificially manipulate currency values to gain an edge in trade,” he said.
Yellen’s remarks in fact imply a return to the “strong dollar” policy pursued by the US administration in the past.
The “strong dollar” stance that has been passed down since the Bill Clinton administration is a policy that the Donald Trump administration has virtually abolished. President Trump and Treasury Secretary Stephen Manusin have been promoting policies to induce weak dollars to increase export competitiveness by increasing the price competitiveness of US-made products. Minister Manusin once said that “an overly strong dollar hurts the US economy.”
However, Yellon’s remarks on that day are evaluated as showing that President Donald Trump, a representative “weak dollar supporter,” withdrew from the White House and that the “strong dollar era” will come under the Biden administration.
–
–
©’Five-language global economic newspaper’ Ajou Economy. Prohibition of unauthorized reproduction and redistribution
.
