The US Treasury Department reaffirms its "strong dollar" stance.
During a hearing before the U.S. House of Representatives, Scott Bestsent reaffirming Washington's long-standing commitment to A strong USD policy .
He emphasized: "We have always supported a strong dollar," thereby defending the role of the USD as a key currency. global reserve currency .
Following this statement, The USD Index remained largely unchanged , suggesting the market had somewhat "pre-priced" the US Treasury Department's stance.
Bestenst also affirmed his support. the independence of the Federal Reserve (Fed) , but note that "Accountability is also very important," especially in the context of the increasingly heated political debate surrounding monetary policy.
"The US Treasury does not have the authority to buy Bitcoin."
One of the most discussed issues is the question of whether the US government could... Intervention to “rescue” Bitcoin (BTC) or not.
In a direct response, Bestent stated clearly:
"The Ministry of Finance does not have the authority to purchase Bitcoin with taxpayers' money."
This statement comes amid proposals made by some Republican lawmakers. Sell a portion of your gold reserves to buy Bitcoin .
Bessent believes this It is not within the legal jurisdiction of the Ministry of Finance , and it also stated that issues related to monetary policy and the Vai of the Fed, if disputed, should wait. ruling of the U.S. Supreme Court .
The hearing was tense and criticized Biden's crypto policies.
The atmosphere in the meeting became tense when Maxine Waters , a senior Democratic congresswoman, once asked Bessent "silent" Right here in the meeting room.
Meanwhile, the New York congressman Dig Meeks He was accused of behaving as "henchman" of the President Donald Trump .
In response, Bessent defended the Trump administration's growth-boosting policies, calling them a vision of “Parallel prosperity – where Wall Street and Main Street grow together,” while also criticizing some past management practices. "Reflexive regulation rather than crisis prevention."
Notably, he also attacked the cryptocurrency policy under the Biden administration, describing it briefly but sharply: "Destruction" .
