Treasury Secretary candidate Janet Yellen has said that The United States believes in market-determined exchange rates. He added that the United States under the president-elect Joe Biden will not seek a weaker dollar for a competitive advantage and both will work to target countries that do.
The former Fed chair has also spoken out about China, characterizing it as an important and strategic competitor. She said that will work with its allies to confront Beijing to withdraw abusive, unfair and illegal practices from the country.
Yellen testifies before the Senate Finance Committee.
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