Fed's Mester says we don't set the value for the US dollar

Cleveland Fed President Loretta Mester. Earlier remarks:

• Fed's Mester says further rate hikes will be needed, and restrictive policy for some time
• Fed's policy rate may be right below restrictive level, not at neutral yet

More again:

• We are going to set monetary policy that's appropriate for the united states
• We don't set value of dollar, but have to understand impact on u.s. Economy
• Right now we are doing a pretty good job of communicating where we are going with policy
• There is no active discussion now of possible sale of MBS, but hope eventually to have a discussion about it

The Fed is getting blowback on the impact of its policies on the US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term. ICYMI, its skyrocketing ....