Powell: The Government Must Understand the Impact of Potentially Severe Fluctuations in the Dollar

Federal Reserve Chairman Powell delivered an opening speech at an event, stating that the Federal Reserve still needs to gain a deeper understanding of the policies and practices of other countries' governments and central banks, and their impact on the U.S. economy and financial markets. The end of the Bretton Woods system in the 1970s fundamentally changed the way monetary policy is implemented, with exchange rate policy now primarily handled by the U.S. Treasury. Policymakers must understand the potential for more severe fluctuations in the dollar and their impact on American households and businesses. It is reported that Federal Reserve Chairman Powell did not comment on monetary policy and economic prospects.