Sec. Yellen: I Can Imagine Situations Where Markets Are So Disorderly that Currency Intervention Is Called For

LIESMAN Madam Secretary just ░░░░░░░░ last question I ve ░░░░░░░░ interviewing Treasury Secretaries since ░░░░░░░░ 1990s and I ve ░░░░░░░░ not asked them about ░░░░░░░░ dollar When you wake ░░░░░░░░ in the morning do ░░░░░░░░ look at the dollar ░░░░░░░░ do you think about ░░░░░░░░ dollar It s weakened ░░░░░░░░ with Federal Reserve rate ░░░░░░░░ Do you think about ░░░░░░░░ in a range How ░░░░░░░░ concern do you have ░░░░░░░░ the value of the ░░░░░░░░ versus other currencies Yellen ░░░░░░░░ at the beginning of ░░░░░░░░ administration I tried to ░░░░░░░░ what the U S ░░░░░░░░ policy is And what ░░░░░░░░ said is that we ░░░░░░░░ in a market based ░░░░░░░░ that the value of ░░░░░░░░ dollar should be determined ░░░░░░░░ markets that we should ░░░░░░░░ a strong macroeconomic policy ░░░░░░░░ with macroeconomic stability price ░░░░░░░░ and full employment in ░░░░░░░░ United States and allow ░░░░░░░░ dollar to adjust as ░░░░░░░░ to accomplish those goals ░░░░░░░░ of course I watch ░░░░░░░░ value of the dollar ░░░░░░░░ it s been a ░░░░░░░░ time since the United ░░░░░░░░ has intervened in currency ░░░░░░░░ Can imagine situations where ░░░░░░░░ are so disorderly that ░░░░░░░░ is called for But ░░░░░░░░ a normal matter the ░░░░░░░░ is determined by markets ░░░░░░░░ interest rate differentials globally ░░░░░░░░ been important drivers of ░░░░░░░░