Treasury Secretary Scott Bessent stated on Wednesday that he has always supported a strong dollar policy.

Reuters reported that Secretary Bessent made these remarks during a hearing of the House Financial Services Committee on the same day.

Earlier, on January 28, Secretary Bessent said in an interview with CNBC, "The U.S. has always had a strong dollar policy." When asked if the U.S. was intervening in the foreign exchange market to boost the value of the dollar against foreign currencies, he responded, "Absolutely not." This statement reaffirmed his position.

Regarding the controversy over the infringement of the Federal Reserve's (Fed) independence due to President Donald Trump's repeated pressure for interest rate cuts, Secretary Bessent argued that it is President Trump's right to express his opinion on the Fed's monetary policy.

He added that the Fed's independence is based on the trust of the American people, and the Fed has lost that trust by failing to control inflation in the past.

Secretary Bessent stated that inflation remains a key economic challenge facing the U.S., and warned that the Fed has lost public trust by allowing prices to surge and "destroying incomes."

Bessent said that despite President Trump imposing several tariffs within his first year in office, the U.S. economy has grown and inflation has decreased.

He told lawmakers, "Therefore, the tariff inflation was like the dog that didn't bark."

The expression "the dog that didn't bark" refers to "a suspicious situation." It is a well-known idiom originating from a Sherlock Holmes story, where the dog's silence indicated it recognized an intruder.

U.S. data from last month showed that the producer price index (PPI) in December rose significantly more than expected, suggesting that inflation could accelerate in the coming months.

Secretary Bessent's remarks come amid a renewed debate over interest rates, inflation risks, and the long-term direction of central banks, as investors and lawmakers closely watch the Federal Reserve ahead of upcoming policy meetings.

By NNP Chief Reporter Sung Ku Hong / Special Correspondent NNP info@newsandpost.com