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Trump says euro dropping 'like crazy' against dollar, blames Fed

Published 08/30/2019, 07:24 PM
Updated 08/30/2019, 07:24 PM
© Reuters. President Donald Trump departs the White House en route to Camp David

© Reuters. President Donald Trump departs the White House en route to Camp David

WASHINGTON (Reuters) - U.S. President Donald Trump on Friday accused the U.S. Federal Reserve Bank of inaction as the euro slid in value against the dollar, something he said gave European countries a big trade advantage.

"The Euro is dropping against the Dollar 'like crazy,' giving them a big export and manufacturing advantage...and the Fed does NOTHING!" Trump said in a Twitter post.

"They don't have a clue!" said Trump, a frequent critic of Fed policies.

Trump has repeatedly decried the relative loftiness of U.S. borrowing costs compared to rates in nations that compete with the United States in global markets, often citing negative rates in Germany.

Asked by a reporter on Friday if he would want to see negative rates in the United States, Trump said: "No. I just think the Fed is making a big mistake, because if you look at what the other Fed equivalents are doing right around the world, they're at a much lower rate... It makes it much harder to compete."

© Reuters. President Donald Trump departs the White House en route to Camp David

"The Fed is hurting me."

Latest comments

For the first time, the US president knows what he's talking about and knows the business.
It would be nice if he suddenly started to know what he is talking about, but isn't that a bit optimistic.
Everybody is hurting him. Mr. Excuse.
everything blame Fed only
Well, borrow money from somewhere else then trump.
like... Russia?
Funny....a Republican upset with the workings of a free market global economy. Precisely why I’ve done far better in the stock market under Democratic administrations.
Trump's trade war is Feds fault too?
Trump's the one that doesn't have a clue, not the Fed.
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