President Donald Trump criticized a too-strong U.S. dollar and too-robust interest rates during a talk at this year’s Conservative Political Action Conference on Saturday, according to a video of the event posted on C-SPAN.
“We have a gentleman that likes a very strong dollar in the Fed,” said Trump, after saying that Federal Reserve Chairman Jerome Powell, whom Trump has bashed in the past, also likes raising rates and prefers “quantitative tightening.” He did not mention Powell by name.
“So with all of those things — and we want a strong dollar but lets be reasonable, you understand that — with all of that, we’re doing great.”
Then, Trump told the crowd, “Could you imagine if we left interest rates where they were? There’s no inflation, essentially….” Then he asked what would happen if there were no quantitative tightening.
The dollar would be a little weaker, he said, implying that would be good for exporting U.S. goods.
“I want a strong dollar, but I want a dollar that’s going to be great for our country — not a dollar that’s so strong that it is going to be prohibitive for us to be dealing with other nations and taking their business.”