Federal Reserve Chair Highlights Global Policy Impact on U.S. Economy

According to PANews, Federal Reserve Chair Jerome Powell emphasized the importance of understanding international government and central bank policies and their effects on the U.S. economy and financial markets during a recent event. Powell noted that the end of the Bretton Woods system in the 1970s fundamentally altered the approach to monetary policy, with exchange rate policy now primarily managed by the U.S. Treasury Department. Policymakers must comprehend the potential for more significant fluctuations in the dollar and their impact on American households and businesses. Powell did not comment on monetary policy or economic outlook during his remarks.