Warsh said in response to a question afterward that any central bank, including the Fed, cannot be ``indifferent to the value of its currency.'' Three days ago, finance chiefs from the U.S. and other Group of Seven nations signaled concern on the dollar's slide and said the global economic slowdown may worsen amid an ``entrenched'' credit squeeze.

As reported by Bloomberg News

And you {Jean-Claude Trichet} have been an extraordinary force for strength amongst those who have argued essentially against our finance ministers, and you must remember that when we have - and I assume Ben now becomes aware of this at every peculiarity - when you go into a G-7 meeting, you would think that it would be France against the United States and Britain against Germany. No. It's the finance ministers against the central bankers.

Central bankers take the right view, obviously, and the finance ministers are in perpetual catch-up. But the reason, incidentally, is the fact that finance ministers can't seem to hold their jobs very long. They don't have the chance to learn very much, whereas we central bankers learn from each other.

At a dinner honoring Jean-Claude Trichet, as reported in a Bloomberg News transcript