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US Treasury Secretary praises Warsh for eliminating forward guidance, reiterates dominance of US dollar

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ME News, June 24 (UTC+8), U.S. Treasury Secretary Bessent praised Federal Reserve Chairman Warsh for eliminating forward guidance, and he also believed that no one should do dot plot forecasts. On the economic front, he expects real wage growth to return to the pace before April and expects the economy to accelerate in the remainder of the year without pushing up inflation. He emphasized that the dominance of the dollar is crucial. He believes that after the situation in Ukraine ends, Russia will want to restore the dollar system, and the new Venezuela is re-entering that system. During the period when interest rates are cut, the dollar can still remain strong, and the U.S. is happy to take the right measures to keep the dollar strong. Regarding Iran, Bessent said the U.S. Treasury will monitor the allocation of funds to Iran, which will initially be released through Qatar, with a large portion used to purchase U.S. food and medicine regulated by the Treasury, and any funds received by Iran should belong to the Iranian people. (Source: Jin10)
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