Dollar's decline: French central bank critiques Trump policies
The events of recent days and weeks have undermined confidence in the American currency, stated the head of the French central bank, François Villeroy de Galhau. He also addressed the possibility of a recession in his country.
François Villeroy de Galhau, head of the French central bank, remarked on Thursday that U.S. President Donald Trump's recent policies have weakened confidence in the dollar. Villeroy, who is also a member of the European Central Bank (ECB) board, noted that this situation could enhance the international role of the European currency. He recalled that 25 years ago, Europe "created the euro and its own monetary policy."
"Trump undermines confidence in the dollar"
- A crucial aspect of American policy stability in recent decades has been the commitment to the dollar's central role. I believe that the Trump administration shares this perspective but is pursuing it very chaotic. The events of recent days and weeks have undermined confidence in the American currency, stated the head of the French central bank.
He added that he does not foresee a recession in France. On Wednesday evening, French Economy Minister Eric Lombard mentioned that this year's economic growth is expected to be lower than initially projected - not 0.9% GDP, but 0.7%.
