Yellen Pressed to Back Strong Dollar in Reversing Trump-Era Tone

Janet Yellen once touted the benefits of a weaker greenback for exports, but as the incoming Treasury secretary, she faces pressure to return the U.S. to a “strong-dollar” policy — and may cause trembles on Wall Street if she doesn’t. The greenback’s tumble this year — it’s heading for the second-biggest drop in the past decade and a half — has already stoked foreign policy makers’ concerns, thanks to the competitive advantage it gives the U.S. Even a tacit endorsement of a weakening dollar could spur tensions with trading partners. Yellen, President-elect Joe Biden’s pick for Treasury chief, if … (full story)

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