August 19, 2019 / 12:05 PM / a month ago

U.S. Commerce secretary: Fed policies boosting U.S. dollar

FILE PHOTO: A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration

WASHINGTON (Reuters) - Commerce Secretary Wilbur Ross said on Monday that the Trump administration was not happy with how Federal Reserve monetary policy was helping the U.S. dollar stay strong.

Asked on Fox Business Network whether a strong dollar would adversely affect the economy, Ross said, “We’re very upset about the portion of the strength of the dollar that’s due to monetary policy by the Fed.”

The Trump administration has been pushing the Fed to lower interest rates.

Reporting by Doina Chiacu and Makini Brice; Editing by Chizu Nomiyama

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