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Trump says strong dollar hurting U.S. competitiveness

Trump says strong dollar hurting U.S. competitiveness© Reuters. U.S. dollar bills are seen on a light table at the Bureau of Engraving and Printing in Washington

WASHINGTON (Reuters) – President Donald Trump on Saturday renewed criticism of the Federal Reserve and said the U.S. central bank’s tight monetary policy was contributing to a strong dollar and hurting the United States’ competitiveness.

“We have a gentleman that likes a very strong dollar at the Fed,” Trump said at a Conservative Political Action Conference. “I want a strong dollar, but I want a dollar that’s great for our country not a dollar that is so strong that it is prohibitive for us to deal with other nations.”

Trump, who has made the economy a key part of his political platform, has repeatedly criticized the Federal Reserve and its chairman, Jerome Powell, whom he appointed to head up the Fed, for raising interest rates. The U.S. central bank recently has signaled that it will be “patient” before tightening monetary policy further.

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Source: Investing.com

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