Powell: Governments must understand the impact of potentially sharp fluctuations in the dollar

In his opening remarks at an event, Federal Reserve Chairperson Jerome Powell said that the Fed still needs to gain a deeper understanding of the policies and practices of other governments and central banks, and their impact on the U.S. economy and financial marekt. The end of the Bretton Woods system in the 1970s fundamentally changed the way monetary policy is conducted. With exchange rate policy now largely the responsibility of the US Treasury, policymakers must understand the impact of potentially more severe fluctuations in the dollar on U.S. households and businesses. It is reported that Federal Reserve Chairperson Powell did not comment on monetary policy and the economic outlook.