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Trump decries dollar's strength, blames the Fed

Economy Aug 08, 2019 11:11AM ET
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© Reuters. U.S. President Trump speaks about shootings in El Paso and Dayton at the White House in Washington

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 (NYSE:CAT), Boeing (NYSE:BA), 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.

Trump decries dollar's strength, blames the Fed
 

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Comments (3)
Al Vlaj
alvlaj Aug 08, 2019 12:00PM ET
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- Trump starts tariff war. - Global economy suffers. - Spark Global flight to quality. - Global Demand for US Treasuries spikes- Treasuries are purchased in USD- Global demand for USD increased to pay for Treasury purchases. This guy really needs to go back college and pay attention.
Anthony Maestas
Anthony Maestas Aug 08, 2019 11:27AM ET
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Trump will levy more tariffs on China and blame the fed for it because they "didnt do enough."
Zen Cat
LittleZenCat Aug 08, 2019 11:01AM ET
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Maybe China can help a bit with that by unloading some bonds xD
 
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