Powell Reaffirms Dollar Policy Rests With Treasury, Not the Fed

Federal Reserve Chair Jerome Powell said the central bank does not actively discuss the value of the U.S. dollar, reiterating that responsibility for currency policy lies with the Treasury Department. "The dollar has not been a major focus of discussion," Powell told reporters during a question-and-answer session on Wednesday. Powell added that the Treasury is the only U.S. agency that formally speaks on dollar matters, underscoring the Fed’s longstanding practice of steering clear of exchange-rate commentary. He also stressed the importance of reliable government statistics, calling official data the "gold standard" on which policymakers rely.