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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump has reportedly asked aides to find a way to weaken the US dollar
Trump has reportedly asked aides to find a way to weaken the US dollar
Published Wed, Jul 10 2019 7:45 AM EDTUpdated Wed, Jul 10 2019 5:00 PM EDT
Thomas Franck
Key Points
The strength of the greenback has proven a headache for Trump, whos made reducing the U.S. trade deficit a priority.
Last week, the president said in a tweet that the U.S. should match China and Europes currency manipulation game.
President Donald Trump has reportedly asked aides to find a way to weaken the U.S. dollar in an effort to boost the economy ahead of the 2020 presidential election.
The president also asked about the greenback while interviewing Federal Reserve Board nominees Judy Shelton and Christopher Waller, people familiar with the matter told Bloomberg News.
Those individuals also told Bloomberg that Trumps chief economic advisor, Larry Kudlow, and Treasury Secretary Steven Mnuchin disapprove of the idea of government tampering to weaken the dollar. Traditionally, past administrations have always maintained publicly they were for a strong dollar because dollar assets like Treasurys are so widely held around the globe.
Trump has often bemoaned the relative strength of the U.S. dollar in foreign exchange markets, blaming other nations for devaluing their currencies and thereby inflating the American trade deficit. Last week, the president said in a tweet that the U.S. should match China and Europes currency manipulation game.
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https://www.cnbc.com/2019/07/10/trump-has-reportedly-tasked-aides-to-find-a-way-to-weaken-the-us-dollar.html?fbclid=IwAR2m5rX80Mq02y9P58QnkPz1wvdeyOZ8kXBaOwLkwmlxelFdeb9aHo3U5AQ
edhopper
(33,185 posts)he has no clue about Economics.
PJMcK
(21,916 posts)You're point is correct, of course.
I remember when Trump first came to prominence in NYC in the late 1970s. His bio boasted that he was first in his class at Wharton where he received his MBA. Years later, it was revealed that he only got his Bachelor's degree and had studied at the Wharton School. It was the first hint that Trump was full of shit.
As the decades went by, Trump acted like an ass al the time. How come 60+ million people can't see that he's a lying loser?
edhopper
(33,185 posts)I can't answer, except for willful stupidity.
Iliyah
(25,111 posts)Destroy the USA's economy any means necessary. Republican party helps him.
beachbum bob
(10,437 posts)US GOVT racking up now close to record levels of deficits AND consumer debt is getting out of control again as the business climate is falling back quicker now
catbyte
(34,169 posts)Girard442
(6,059 posts)Deadbeats dont have trade deficits cuz people wont sell them stuff.
Javaman
(62,439 posts)Last edited Thu Jul 11, 2019, 10:47 PM - Edit history (1)
if they do this, this will certainly not end well for not just us, but for anyone in the world using the U.S dollar.
of course the moron rooskies are rubbing their hands together thinking they just scored. a weak dollar will also fuck them.
And lets not even what a weak dollar will do for china.
he's a fucking moron.
lagomorph777
(30,613 posts)So that's no surprise. His money is all in Roubles.