Trump criticizes U.S. dollar's strength, blames the Fed

[Eugene]

Source: Reuters

BUSINESS NEWS AUGUST 8, 2019 / 10:54 AM / UPDATED 12 MINUTES AGO

Trump criticizes U.S. dollar's strength, blames the Fed

WASHINGTON (Reuters) - President Donald Trump on Thursday again expressed dissatisfaction with the strength of the U.S. dollar, saying the Federal Reserve’s interest rates were harming American manufacturers.

“The Fed’s high interest rate level, in comparison to other countries, is keeping the dollar high, making it more difficult for our great manufacturers like Caterpillar, Boeing, John Deere, our car companies, & others, to compete on a level playing field,” Trump said in a series of posts on Twitter.

The Republican president has for months been calling on Fed Chairman Jerome Powell and Fed policymakers to lower interest rates to support the U.S. economy.

At the end of July, Fed policymakers cut interest rates for the first time since 2008.

Reporting by Susan Heavey; Editing by Doina Chiacu and Bernadette Baum

https://www.reuters.com/article/us-usa-trump-fed/trump-decries-dollars-strength-blames-the-fed-idUSKCN1UY1Y7

[global1]

1. Somehow I Don't Think That Trump Has These Manufacturers In Mind.....

I think he wants to make sure that the economy doesn't tank before the 2020 election. He's thinking only of himself - as always.

[Princetonian]

2. More cuts on the way.

[underpants]

3. Included Boeing did ya?

[Historic NY]

4. But his tariffs........

nah... they can't be part of the problem.

[KPN]

5. This guy is fucking with the economy and

markets for his own short term benefits. The stock market is bouncing today — euphoria over now anticipated further fed rate cuts. Sadly, he may get away with this scam ... and our next President, undoubtedly a Democrat, will get stuck holding the bag. Not to mention the public at large.

[Zambero]

6. "He that is good at making excuses....

....is seldom good at anything else."

- Benjamin Franklin

[empedocles]

7. A winner !

[Yo_Mama_Been_Loggin]

8. Just STFU Dotard

[rsdsharp]

9. Trump doesn't have a clue.

Very early in his "presidency" (it would have had to have been) there was a story that he called Mike Flynn at 3 AM to ask if a strong dollar was good or bad for the economy. Flynn. the national security adviser, said in effect, "How the hell should I know? Call the Secretary of the Treasury!"

https://www.businessinsider.com/trump-called-mike-flynn-about-us-dollar-at-3-am-2017-2