Daily Management Review

No Attempt Is Made By President Trump To Manipulate The Currency Markets: Says Mnuchin


07/22/2018


Trump’s criticism on dollar’s strength and Fed’s policy does make him break precedent, while the Treasury Secretary assures that the U.S. President supports Fed independence.



On Saturday, July 21, 2018, the Treasury Secretary, Steven Mnuchin stated that the President of the United States, Donal Trump, is not attempting to manipulate the currency markets. His statement reiterates that the U.S. dollar’s strength is an indicator to the strength of the U.S. economy, while a strong economy is only going to benefit the U.S. in the long-term.
 
Mnuchin was in Buenos Aires attending the “G20 meeting” for “finance ministers and central bank governors”, wherein he told the reporters that “he and Trump” as well are in full favour of “U.S. Federal Reserve independence”. However, Reuters reports:
“Trump has broken with precedent in recent days with comments criticizing the U.S. dollar’s strength and the Fed’s monetary policy”.
 
 
References:
reuters.com







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