{"id":104572,"date":"2021-01-17T22:37:36","date_gmt":"2021-01-17T22:37:36","guid":{"rendered":"https:\/\/fin2me.com\/?p=104572"},"modified":"2021-01-17T22:37:36","modified_gmt":"2021-01-17T22:37:36","slug":"janet-yellen-to-say-u-s-does-not-seek-weaker-dollar-wsj","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/janet-yellen-to-say-u-s-does-not-seek-weaker-dollar-wsj\/","title":{"rendered":"Janet Yellen to say U.S. does not seek weaker dollar: WSJ"},"content":{"rendered":"<figcaption>FILE PHOTO: Janet Yellen, U.S. President-elect Joe Biden&#8217;s nominee to be treasury secretary, takes to the podium to speak as President-elect Biden announces nominees and appointees to serve on his economic policy team at his transition headquarters in Wilmington, Delaware, U.S., December 1, 2020. REUTERS\/Leah Millis<\/figcaption><p>(Reuters) &#8211; Janet Yellen, President-elect Joe Biden\u2019s pick to take over the U.S. Treasury, is expected to affirm the United States\u2019 commitment to market-determined foreign exchange rates when she testifies on Capitol Hill on Tuesday, the Wall Street Journal reported on Sunday.<\/p>\n<p>The Treasury secretary nominee, at a Senate confirmation hearing, will make clear the United States does not seek a weaker dollar, the newspaper reported on.wsj.com\/35NaV8W, citing Biden transition officials familiar with her preparation for the session.<\/p>\n<p>\u201cThe 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\u201d, Yellen will say, if asked about the incoming administration\u2019s dollar policy, according to the report.<\/p>\n<p>\u201cThe United States doesn\u2019t seek a weaker currency to gain competitive advantage,\u201d she is prepared to say, according to WSJ. \u201cWe should oppose attempts by other countries to do so.\u201d<\/p>\n<p>Yellen, who served as head of the U.S. Federal Reserve from 2014 to 2018, is expected to win confirmation in the Senate and is likely to be one of the first Biden cabinet picks to be confirmed.<\/p>\n<p>The return to a traditional posture on the dollar has been expected in the new administration.<\/p>\n<p>A Biden transition team official did not respond to a request for comment about Yellen\u2019s testimony.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-usa-biden-yellen\/janet-yellen-to-say-u-s-does-not-seek-weaker-dollar-wsj-idUSKBN29M0O7\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: Janet Yellen, U.S. President-elect Joe Biden&#8217;s nominee to be treasury secretary, takes to the podium to speak as President-elect Biden announces nominees and [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":104571,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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