Bessent expected to say “must ensure that US dollar remains the world’s reserve currency”

From Scott Bessent’s expected remarks to the US Senate Finance Committee Hearing to Consider his nomination to be Secretary of the Treasury:

• We must secure supply chains that are vulnerable to strategic competitors, and we must carefully deploy sanctions as part of a whole-of-government approach to address our national security requirements,
• And critically, we must ensure that the US dollar remains the world’s reserve currency

Emphasising that maintaining the USD as the world’s reserve currency is critical to US economic health.

Hearing is scheduled for Thursday, January 16, 2025 at 10:30 AM US Eastern time.

This article was written by Eamonn Sheridan at www.forexlive.com.