MNI BRIEF: Treasury's Bessent - US Has A Strong Dollar Policy

Treasury Secretary Scott Bessent said Wednesday the United States continues to have a strong dollar policy and the currency will stay the world's reserve currency. 

"We continue to have a strong dollar policy, and the dollar will adjust based on markets," Bessent said in Q&A at an IIF event. "The U.S. will always, for my lifetime, be the reserve currency."

Bessent's remarks came after he gave a speech that called out the International Monetary Fund and the World Bank for falling short of their core missions, but he maintained the U.S. will work with allies to rebalance the international financial system and refocus the IMF and World Bank on their founding charters. 

He suggested shoring up the IMF and the World Bank to refocus on their core missions will help support the dollar. "Reaffirming our belief in these international institutions is also part of that," he added. (See: MNI INTERVIEW: Trump Accelerating Dollar Decline - Eichengreen) 

"Going forward, the Trump Administration will leverage U.S. leadership and influence at these institutions and push them to accomplish their important mandates," he said. "The United States will also demand that the management and staff of these institutions be accountable for demonstrating real progress."