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Is Trump crashing the economy in order to devalue the $USD? (lemmy.today)

submitted 1 week ago by goofus@lemmy.today to c/economics@lemmy.world

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Devaluing a currency is a well known strategy to boost exports. But it might also be useful to reduce imports and build up a local economy. I am wondering if anyone has heard of any discussion of plans to manipulate the future value of the $USD? Will the government print money to reduce the cost of its debt?

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[–] undernajo@lemm.ee 1 points 5 days ago

https://archive.md/20250207003823/https://www.bloomberg.com/news/articles/2025-02-06/bessent-says-strong-dollar-policy-remains-intact-under-trump

Treasury Secretary Scott Bessent said the US continues to have a “strong dollar” policy under President Donald Trump. “The strong-dollar policy is completely intact with President Trump,” Bessent said in an interview with Bloomberg’s Saleha Mohsin Thursday. “We want the dollar to be strong. What we don’t want is other countries to weaken their currencies, to manipulate their trade.”

When the dollar is strong, other currencies are weak by definition. What he say makes no sense. These guys don't have a clue about economics.