WASHINGTON (voa) – U.S. Secretary of State Colin Powell has resigned, as the post-election shakeup of President Bush’s cabinet continues.
The White House announced a total of four resignations from the cabinet today (Monday).
Along with Mr. Powell, Energy Secretary Spencer Abraham, Education Secretary Rod Paige and Agriculture Secretary Ann Veneman are stepping down.
Mr. Powell told the president in a letter that he believes the time has come for him to “return to private life.”
He said he was pleased to be part of a team that, in his words, launched the global war against terrorism, liberated the Afghan and Iraqi people, and brought the world’s attention to the problem of nuclear proliferation.
A White House spokesman praised Mr. Powell for doing an outstanding job and said he will stay on until a successor is named.
Mr. Powell, who is 67, was widely expected to resign before the start of President Bush’s second term in January. He reportedly differed on some major aspects of the Iraq war with Defense Secretary Donald Rumsfeld.
Cabinet re-shuffles are not unusual for second-term U.S. presidents.
The U.S. dollar fell to a seven-month low against the yen and near-record lows compared to the euro on Monday.
Analysts say the huge gap between what the United States buys abroad and what it sells hurts the dollar’s value. The U.S. budget deficit also contributes to the dollar’s decline.
On a visit to Ireland, U.S. Treasury Secretary John Snow said Washington supports a “strong dollar” but said the value is best set by open markets. He was re-stating long-standing administration policy.
Economists say a weaker dollar makes goods exported from the United States less expensive and more attractive on foreign markets.
