Bessent Says Strong Dollar Rests on Credibility, Policy Certainty

TREE NEWS update: US Treasury Secretary Scott Bessent said Tuesday that the dollar remains strong as a reserve currency, telling a congressional hearing that growth in global transaction volumes reflects the credibility of the US system and the current administration’s policies. “A strong dollar is not a price on a screen; it is a reflection of a set of behaviors,” Bessent said, citing regulatory, tax, trade and energy certainty that he said is drawing trillions of dollars into the United States. He noted that while countries such as Russia have cut their foreign reserves, others are still actively adding to them.