Mubasher: The US administration is not content with the extent the Federal Reserve’s monetary policy was giving a boost to the dollar, Commerce Secretary Wilbur Ross told Fox Business Network on Monday.

“We’re very upset about the portion of the strength of the dollar that’s due to monetary policy by the Fed,” Ross said, highlighting the adverse impact of a strong greenback on the US economy.

President Donald Trump has been urging the Fed to cut interest rates, even after the US central bank voted last month to cut benchmark lending rate for the first time since the global financial crisis.

However, Fed Chairman Jerome Powel said that the rate-cut decision came within the framework of an ongoing move to adjust economic conditions, and this is no guarantee for more cuts.

“We’re thinking of it essentially as a midcycle adjustment to policy,” Powell said.

By 3:24 am GMT, the US dollar index ticked up by 0.09% to 98.24.