U.S. Treasury Secretary Bessent told a congressional hearing Tuesday that the dollar’s reserve-currency strength and rising global trading volumes reflect confidence in U.S. institutions and the administration’s policy certainty. He said a strong dollar is not merely a price but the product of actions, citing regulatory, tax, trade and energy certainty that he said is drawing tens of trillions of dollars to the U.S. Bessent added that while countries such as Russia have pared foreign-exchange re

U.S. Treasury Secretary Bessent told a congressional hearing Tuesday that the dollar’s reserve-currency strength and rising global trading volumes reflect confidence in U.S. institutions and the administration’s policy certainty. He said a strong dollar is not merely a price but the product of actions, citing regulatory, tax, trade and energy certainty that he said is drawing tens of trillions of dollars to the U.S. Bessent added that while countries such as Russia have pared foreign-exchange reserves, other nations continue to increase holdings.