Gold Rises With Dollar’s Outlook in Focus After Yellen Weighs In | Metals Mine

  • Gold Rises With Dollar’s Outlook in Focus After Yellen Weighs In

    From bnnbloomberg.ca

    Gold gained as the dollar eased following commentary on the U.S. currency, the merits of massive stimulus, and the outlook for trade from President-elect Joe Biden‘s cabinet nominees. Biden’s pick for Treasury secretary, former Federal Reserve chair Janet Yellen, disavowed using exchange-rate policy to obtain a competitive advantage, a difference from Steven Mnuchin, who repeatedly expressed preference for a weaker dollar. At the same time, she did not say she backs a “strong” dollar. Yellen also told the Senate Finance Committee that the slew of state spending was needed to fight the coronavirus pandemic, ... (full story)

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LloydOz
Jan 20, 2021 9:30am
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I didn't read all of what Janet Yellen said (and nothing of what Steven Mnunchin said), but I am still left wondering what exact policies she refers to when speaking of exchange rate policy in the context of Treasury.

Given that fiscal deficits will be ongoing until about forever.

I can only suspect that she is saying what she is being told to say.
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