Fed Up With the Fed: What It Means for the U.S. Dollar
Via PIMCO today:
President Donald Trump has opened a new front in the cold currency war: He recently complained in an interview and on Twitter that the strong U.S. dollar puts the U.S. at a disadvantage and that China and the European Union have been manipulating their currencies and interest rates lower. Moreover, for the first time since taking office, the U.S. president openly criticized the Federal Reserve for tightening monetary policy, claiming that this “hurts all that we have done.” The greenback obliged and weakened against most currencies after his tweets on 20 July.
