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Trump Sends Mixed Signals on US Dollar Policy
Summary: According to reports from FXStreet, President Trump sent mixed signals on US dollar policy on Friday, emphasizing that he 'will never support a weak dollar' while also discussing the economic benefits of a low exchange rate for US manufacturing. Trump stated, 'I will never say that I like a low exchange rate. I am the ...
According to reports from FXStreet, President Trump sent mixed signals on US dollar policy on Friday, emphasizing that he 'will never support a weak dollar' while also discussing the economic benefits of a low exchange rate for US manufacturing. Trump stated, 'I will never say that I like a low exchange rate. I am the kind of person who likes a strong dollar, but a weak dollar can make you earn more money.' This statement comes as the foreign exchange market speculates that his administration may be actively seeking a weaker dollar. When asked if he is concerned about the continuous decline of the dollar, Trump responded by saying 'I am someone who likes a strong dollar,' but then added 'I won't lose sleep over it.' Trump also mentioned that manufacturing companies are benefiting from a weak dollar, stating 'A strong dollar has a consequence, it looks good, but no one comes to visit, you can't sell factories, trucks, nothing. A strong dollar is good for controlling inflation, that's it. And we don't have inflation at all, we have eliminated inflation.'
