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Federal Reserve links dollar decline to reassessment of U.S. growth after trade-policy changes

Date
2025-06-20
Entry type
economic assessment
Current status
Published assessment covering exchange-rate data through June 13, 2025

The June 2025 report describes a broad currency decline while distinguishing it from the dollar's longer-run real value.

Entities and roles

  • Donald J. TrumpPresident whose administration changed U.S. trade policy in 2025

Claims and evidence

  1. analysisdocumented

    The Federal Reserve's June 2025 Monetary Policy Report said the broad dollar index had declined as U.S. trade-policy changes reportedly prompted investors to reassess relative U.S. growth prospects. Depreciation extended across advanced and emerging-market currencies; the report also said the index remained elevated in real terms against its historical average.