U.S. Treasury Secretary Bessent says dollar strength rests on credibility and policy certainty

U.S. Treasury Secretary Bessent said Tuesday that the dollar remains strong as a reserve currency, adding that rising global transaction volumes reflect confidence in the U.S. system and the measures taken by the current administration. Speaking at a congressional hearing, he argued that a strong dollar should not be reduced to a price shown on a screen. In his words, it reflects a broader set of actions tied to policy direction. Bessent said the administration is building certainty across regulation, taxation, trade, and energy, and that this framework is bringing trillions of dollars into the United States. He also said that while countries including Russia have reduced their foreign exchange reserves, other countries are still adding to them. His remarks framed dollar strength as a function of institutional credibility and policy clarity rather than a standalone market quote, according to the report carried by Odaily and attributed to Jin10.