Wednesday, July 26, 2017

Trump Wants Low Interest Rates and a "Not Too Strong" Dollar

I have been warning in the EPJ Daily Alert that the dollar looks very weak at the present time and could break significantly lower in the not too distant future.

It looks like President Trump wants to help me with my forecast.

He told The Wall Street Journal yesterday:
 I do like low interest rates. I mean, you know, I’m not making that a big secret. I think low interest rates are good. I like a dollar that’s not too strong. I mean, I’ve seen strong dollars. And frankly, other than the fact that it sounds good, lots of bad things happen with a strong dollar. …

He also said he might reappoint Janet Yellen at the Fed, her term expires January 31, 2018 or he may go with another strong dollar hater Gary Cohn:
PRESIDENT TRUMP: I would say yes, she is in the running to stay.

WSJ: Is Gary [Cohn] a candidate? (Laughter.)

PRESIDENT TRUMP: He doesn’t know this, but yes, he is. (Laughter.)

WSJ: Are there other candidates?

PRESIDENT TRUMP: I actually think he likes what he’s doing right now.

WSJ: That’s what he tells us.

PRESIDENT TRUMP: Don’t tell Gary what I just said.

WSJ: Are there other candidates?

PRESIDENT TRUMP: Yeah, there are two or three. But she is – she is in the running, absolutely. I like her. I like her demeanor. I think she’s done a good job. I’d like to see rates stay low. She’s always been – you know, she’s historically been a low-interest-rate person, a believer.

WSJ: Do you have a time frame for announcing a decision?
PRESIDENT TRUMP: I would say sometime by the end of year, probably.
  -RW

3 comments:

  1. Oh yea. I totally love when my store of wealth buys less and less ACTUAL STUFF around the world. That's just swell.

    ReplyDelete
  2. --- And frankly, other than the fact that it sounds good, lots of bad things happen with a strong dollar. ---

    Lots and lots of baaaad things! Lotsa!

    That's the level of economic sophistication the orange man and heeo of Trumpistas holds.

    What a buffoon.

    ReplyDelete
  3. Audit those criminals and let the American people see the truth. And then end the fee.

    ReplyDelete