Fed Official: Weaker Dollar Not Affecting Policy Decisions (2/9/2026)

Fed official Stephen Mian said Monday, Feb. 9, 2026, that a weaker dollar is not currently affecting U.S. monetary policy decisions. Speaking at a Boston University event, Mian noted the recent depreciation has “little impact on consumer inflation” and would only matter if the weakening became very pronounced. He added, “To date, I do not believe a weaker dollar is having any material impact on monetary policy.” The dollar index fell Monday after a near-1% rebound in the prior week, following President Trump’s nomination of Kevin Warsh as the next Fed chair. According to CME Group’s FedWatch tool, markets now expect the first rate cut of 2026 in June, likely at the same time Warsh is set to take office.