Make up your mind, Mr. President. Do you want low interest rates or a strong dollar? [Los Angeles Times (CA)]
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Source: Los Angeles Times
Currency manipulation is when a country’s rulers have their central bank monkey with the supply of legal tender to gain an advantage over trading partners. Typically, it means increasing the supply of the domestic currency in an effort to bring down its value in comparison to foreign currencies, making the country’s exports cheaper and its imports more expensive. In an interview Monday with Reuters, President Trump accused China and the European Union of manipulating their currencies while also urging the U.S. central bank to allow for a greater supply of U.S. dollars. It’s bad enough that Trump speaks as much as he does about monetary policy. His predecessors largely steered clear of that topic, in part to preserve the public’s confidence in the Federal Reserve’s independence, in part to avoid the sort of accusation Trump leveled at China and the EU. They were wise to do so. Former New York Mayor and Trump TV lawyer Rudy Giuliani is trying to extricate himself from his mind-boggling
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