Summary
- President Trump stated that a weak dollar is favorable for the increase in U.S. exports and repayment of national debt.
- He argued that while a strong dollar can suppress inflation, since inflation has already been resolved, a weaker dollar is now needed.
- President Trump conveyed that weak dollar policies enhance the effectiveness of tariffs and facilitate fundraising at low interest rates.
U.S. President Donald Trump reiterated the need for the Fed to cut interest rates and emphasized once again the weakness of the U.S. dollar.
According to Reuters on the 25th (local time), President Trump, speaking to reporters at the White House before leaving for Scotland, said, "I am someone who likes a strong dollar, but a weak dollar lets you make a lot more money," and "It shouldn't be 'a weak dollar' but rather 'an even weaker dollar.'"
President Trump asserted, "If you have a strong dollar, you can't sell anything," adding, "It's good for curbing inflation, but we've already eliminated inflation."
He explained, "I've fought many currency battles with Japan and China. What they always wanted was weak currencies," and "For the past 20 years, China has fought to keep the yuan weak, and during Japan's heyday, they also maintained a very weak currency."
He went on to say, "A weak dollar further boosts the effects of tariffs and is advantageous for national debt repayment and low-interest funding."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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