Stephen Miran from the Council of Economic Advisers denied claims that the White House is secretly trying to weaken the dollar.
Response to Currency Policy Rumors
During an interview on Bloomberg’s *Big Take DC*, Stephen Miran stated, "We’re not secretly at work on any of this stuff. There’s nothing there." He explained that Treasury Secretary Scott Bessent is the official spokesperson on the government's currency stance.
Market Reactions and Tariff Impact
Recent events in currency markets, especially after President Trump paused the imposition of tariffs, led to significant movements. For instance, the Taiwanese dollar surged by nearly 10%.
Trump Administration's Stance
Miran emphasized that despite market fluctuations, the administration maintains its strong dollar policy. He mentioned that a strong dollar brings many benefits, despite previous doubts expressed about the dollar's dominance in the global financial system.
Rumors of secret plans to lower the dollar's value were denied by the Trump administration, which continues to support a strong dollar policy.
