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Trump Says Strong U.S. Dollar, Rate Hikes Are Hurting Economy

(Todd Haselton – CNBC)

President Donald Trump reiterated his criticism of the Federal Reserve’s monetary policy and said it is promoting a strong U.S. dollar, possibly at the expense of the U.S. economy, during a nearly two-hour speech at the Conservative Political Action Conference on Saturday.

“America is now booming like never before,” Trump said. “Other countries are doing very poorly. That makes it even harder for us to be successful. Plus, we have a gentleman that likes raising interest rates in the Fed,” he said, referring to Federal Reserve Chair Jerome Powell.

“We have a gentleman that loves quantitative tightening in the Fed. We have a gentleman that likes a very strong dollar in the Fed. So with all of those things — we want a strong dollar but let’s be reasonable — with all of that we’re doing great. Can you imagine if we left interest rates where they were? If we didn’t do quantitative tightening? I want a dollar that’s great for our country but not a dollar that’s prohibitive for us to be doing business with other countries.” Click here to read more.