U.S. Treasury Secretary Dismisses Concerns Over Dollar's Decline

According to BlockBeats, U.S. Treasury Secretary Besent has dismissed concerns that the recent depreciation of the dollar could affect its status as the world's primary currency. Besent stated that the dollar's value is unrelated to the strong dollar policy, emphasizing that the key to this policy is whether long-term measures are in place to ensure the dollar remains the global reserve currency. He affirmed that the Trump administration is indeed implementing such measures. The dollar index fell nearly 11% in the first half of the year, marking its worst performance since 1973. This decline occurred amid concerns over U.S. President Donald Trump's policies, particularly the potential economic impact of increased tariffs and a tough diplomatic stance towards long-standing allies who have historically invested in the U.S. Besent noted that the Republican tax bill has "created conditions for economic growth."