Is the Dollar Better for Our Country If It Is Weaker or Stronger?
Depends on who you ask.... The President or the Treasury Secretary
These are small troubling signs. The Trump White house is clearly not on the same page and they are wreaking havoc on the market for the US Dollar.
Last week Treasury Secretary Steven Mnuchin said a weaker dollar is good for the economy.
President Trump fires back and says that his remarks were taken out of context. A strong dollar policy is best for our country.
Then the next day with his tail between his legs, Mnuchin says that a stronger dollar policy is in the best interest of our country.
How is what he said taken out of context? It seems pretty black and white to me. Mnuchin, whose policies effect the the value of the dollar, thinks a weak dollar policy is best. Then flip flops two days later when his boss disagrees.
Treasury Secretary Mnuchin - what is it - why the change of heart? Do you really buy into what the President thinks or do you disagree? This is troubling in 3 ways.
1) They aren't on the same page on a subject that is very important to the economy. That was a big public gaff that the media missed.
2) Words move markets - the value of the US dollar was all over the place because of these remarks. They are carelessly playing with markets. There is a downside to that type of recklessness.
3) You don't disagree with Donald Trump - we all knew that to begin with. The key is let's just hope he is right. It makes you wonder how many of his advisors he really listens to or if he is a lone wolf decision maker?
That has its good and its bad.