Trump Wants a Weaker Dollar- Gold Nods and Rallies
- TRUMP SAYS IN WSJ INTERVIEW STRONG DOLLAR 'WILL HURT ULTIMATELY' THE U.S., MAKES IT VERY HARD TO COMPETE
- PRESIDENT TRUMP: U.S. DOLLAR 'IS GETTING TOO STRONG'
- TRUMP SAYS HE PREFERS LOW INTEREST RATE POLICY
- TRUMP SAYS WON’T LABEL CHINA CURRENCY MANIPULATOR: WSJ
From the WSJ
President Donald Trump said Wednesday the U.S. dollar “is getting too strong” and he would prefer the Federal Reserve keep interest rates low. Mr. Trump, in an interview with The Wall Street Journal, also said his administration won’t label China a currency manipulator in a report due this week.
He left open the possibility of renominating Federal Reserve Chairwoman Janet Yellen once her tenure is up next year, a shift from his position during the campaign that he would “most likely” not appoint her to another term.
“I do like a low-interest rate policy, I must be honest with you,” Mr. Trump said at the White House, when asked about Ms. Yellen. “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me. But that’s hurting—that will hurt ultimately,” he added. “Look, there’s some very good things about a strong dollar, but usually speaking the best thing about it is that it sounds good.”
He continued, “It’s very, very hard to compete when you have a strong dollar and other countries are devaluing their currency.”
Gold Rallies from $1278 to $1284 before you could say "Currency Manipulator"
Interactive chart HERE
The Dollar Dumped
Essentially, Trump recuses himself from calling China a currency manipulator. Then manipulates the USD with his speech. Meanwhile, the Fed, which wants to tighten monetary policy, just got pranked.
Reuters Reports:
President Donald Trump said on Wednesday that the dollar was "getting too strong" and would eventually hurt the U.S. economy, even as he said he would like to see interest rates stay low, the Wall Street Journal reported.
In an interview, Trump also said he would not label China a currency manipulator in a U.S. Treasury report due later this week, the Journal said. He also said he respected Federal Reserve Chair Janet Yellen, saying she was "not toast" when her current term ends in 2018.
"I think our dollar is getting too strong, and partially that's my fault because people have confidence in me. But that’s hurting - that will hurt ultimately," he said.
(Reporting by Timothy Ahmann; Editing by Eric Beech)
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