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Trump says Fed rate hike decision is up to the whole board
The remarks were followed by the US Dollar Index, DXY, trading marginally lower near 99.92 during the European session.
US President Donald Trump said in an interview with Punchbowl that any potential Fed interest rate hike would not be determined solely by Fed Chairman Kevin Warsh, but by the entire board. Trump added that it is “up to Warsh a little bit” and suggested the decision would not rest completely with Warsh before a vote.
FXStreet reported that Trump’s comments caused no major impact on the US dollar. At press time during the European trading session, the US Dollar Index, DXY, was marginally lower, around 99.92.
The piece also reiterated that the value of the US dollar is primarily driven by monetary policy set by the Federal Reserve, which influences interest rates to support price stability and full employment.
Latest closeDollar index 99.98 ▲0.3%