Trump is right, the strong dollar is hurting U.S. goods exports, data shows. Here’s what he, the Fed and Treasury can do about it.
http://dailytorch.com/2019/09/trump-is-right-the-strong-dollar-is-hurting-u-s-goods-exports-data-shows-heres-what-he-the-fed-and-treasury-can-do-about-it/
The strong dollar has historically been linked to declines in U.S. goods exports, including manufacturing, an analysis of U.S. Census Bureau and Federal Reserve data shows, predating the tenure of President Donald Trump and his tariffs. This vindicates contentions by Trump, who has been hammering the Fed for months over what he says is the dollar being too strong relative to foreign currencies including the Chinese yuan and the euro. Turns out, Trump is right. And he is not powerless to do something about it. The President could direct Treasury Secretary Mnuchin to work with the Federal Reserve Board of Governors to engineer a dollar devaluation, using the Exchange Stabilization Fund to buy foreign currencies and then selling them directly to the Fed. What do you think?
