Larry Kudlow, the Reagan administration economist who also advised the Trump campaign, praised President Trump for his speech and other remarks this week in Davos, Switzerland.
The president brought his “America First” message to the annual World Economic Forum meeting, while also showing a willingness to co-operate with other countries. Davos has the reputation for bringing together the business and political elite to promote a globalist agenda that’s contrary to Trump’s campaign message of protecting U.S. workers from the ravages of unfair trade.
“It was very wise to go into the lion’s den,” Kudlow said on cable channel CNBC. “I liked his tone, which was cooperative, and I liked his substance, which was: ‘America’s open for business’.”
Kudlow also liked how Trump showed more inclusiveness in his “America First” message.
"I believe in America," Trump said. "As president of the United States I will always put America first just like the leaders of other countries should put their country first also. But America first does not mean America alone. When the United States grows, so does the world."
The U.S. stock market rose to new records this week, which added to the positive tone of the Davos meeting. The only hiccup was a statement by Treasury Secretary Steven Mnuchin about the benefits of a weak dollar to U.S. companies that do business in other countries. The comments caused a brief selloff in stocks and a rise in gold.
Mnuchin and Trump later declared their support for a strong dollar, keeping with a long-term policy for the U.S.
"Ultimately, I want to see a strong dollar," Trump said in an interview with CNBC.
“How about a strong, stable, reliable currency? To make America great, you need to make a currency great,” Kudlow said. “The dollar is going to go up, I don’t know when, but better growth and higher interest rates: the dollar’s going to go up. The Treasury can jawbone, and occasionally they can intervene, but basically, the dollar is a function of Fed policy and the economy.”
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