economy
January 29, 2026
Shock Video: Fed Chair Powell Won’t Comment On Dollar Devaluation, ‘Not Our Role’
Federal Reserve chair won't comment on devaluation of Federal Reserve notes.
TL;DR
- Federal Reserve Chairman Jerome Powell refused to comment on the decline of the U.S. dollar.
- Powell stated that commenting on the dollar is not the Federal Reserve's role, but rather the Treasury Department's.
- The Federal Open Market Committee decided to hold interest rates steady.
- President Donald Trump had been requesting a change in interest rates.
- Powell also downplayed the significance of rising gold and silver prices.
- He stated that rising precious metal prices do not carry a significant macroeconomic message and that the Fed's credibility is sound.
- Central banks in countries like China, Poland, and Kazakhstan are reportedly buying large amounts of gold.
- President Trump chastised Powell for not lowering interest rates.
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