Tags: Trump Administration | trump | dollar | strong | fed

White House: Trump Thinks Dollar Too Strong, Blames Fed Policy

White House: Trump Thinks Dollar Too Strong, Blames Fed Policy
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Tuesday, 25 June 2019 05:27 PM

President Donald Trump believes the U.S. dollar is too strong, and the euro is too weak, and feels the situation could be eased if the Federal Reserve lowered interest rates, a senior administration official said on Tuesday.

The official also said the White House had no plans to demote Fed Chairman Jerome Powell, adding that there were different views within the White House counsel's office regarding the president's authority to do so.

Trump, who is expected to underline U.S. economic gains in his 2020 re-election bid, has frequently blasted Fed policy and said other countries are using monetary polity to manipulate their currency and gain advantage in the global markets.

The Republican president had tapped Powell to lead the U.S. central bank, but has repeatedly and publicly criticized him and sought to remove him from his post.

But there are differing opinions on whether Trump has the authority to remove Powell, the official said, speaking on condition of anonymity.

The official added that Trump is expected to interview several candidates for other open seats on the Fed after the president returns from his upcoming trip to Japan. 

© 2019 Thomson/Reuters. All rights reserved.

   
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President Donald Trump believes the U.S. dollar is too strong, and the euro is too weak, and feels the situation could be eased if the Federal Reserve lowered interest rates, a senior administration official said on Tuesday.
trump, dollar, strong, fed
187
2019-27-25
Tuesday, 25 June 2019 05:27 PM
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