AFP, Miami :
US Treasury Secretary Jacob Lew said Friday that the surge in the US dollar represents the gains made by the economy and is good for the country.
“A strong dollar is good for America, it reflects a strong US economy,” Lew said at a round-table discussion in Miami.
US exporters have begun complaining that the dollar, which has gained about 20 percent against a trade-weighted basket of currencies in the past year, is starting to undermine their competitiveness with rivals around the world.
And on Wednesday, Federal Reserve Chair Janet Yellen said the dollar’s negative impact on exports amounts to a drag on economic growth, albeit not a large one.
But Lew said the US economy can handle that.
“Overall right now the US economy is doing well and you are seeing demand strong. And (it is) looking like it’s going to stay strong,” he said.
US Treasury Secretary Jacob Lew said Friday that the surge in the US dollar represents the gains made by the economy and is good for the country.
“A strong dollar is good for America, it reflects a strong US economy,” Lew said at a round-table discussion in Miami.
US exporters have begun complaining that the dollar, which has gained about 20 percent against a trade-weighted basket of currencies in the past year, is starting to undermine their competitiveness with rivals around the world.
And on Wednesday, Federal Reserve Chair Janet Yellen said the dollar’s negative impact on exports amounts to a drag on economic growth, albeit not a large one.
But Lew said the US economy can handle that.
“Overall right now the US economy is doing well and you are seeing demand strong. And (it is) looking like it’s going to stay strong,” he said.
