Bessent Says Dollar Reflects US Strength

US Treasury Secretary Scott Bessent said on Tuesday that the dollar’s strength reflects the credibility of the Trump administration, as he defended US economic policy at a congressional hearing.

“A strong dollar is not a price on a screen; it is a set of behaviors, and what we have seen in this administration, where we are creating regulatory certainty, tax certainty, trade certainty and energy certainty that is bringing in trillions of dollars into the US”, Bessent said.

He also pointed to strong demand for US government debt, saying the Treasury had recently held its two most successful auctions in 20 years.

“Since President Trump has come in, [the US bond market] has been the best-performing bond market in the developed world”, Bessent said.

(Reuters, im)