Donald Trump Says The Dollar's Too Strong & It's Partially His Fault | The 11th Hour

>>> I'M GOING TO INSTRUCT MY TREASURY SECRETARY TO LABEL
CHINA A CURRENCY MANIPULATOR. THE GREATEST IN THE WORLD.
>> THAT WAS LAST SUMMER IN AKRON, OHIO.
IN JUST THE PAST FEW DAYS, DONALD TRUMP HAS MADE SOME STARK
POLICY U-TURNS FROM HIS POSITIONS DURING THE CAMPAIGN.
FOR STARTERS, ON NATO, ON RUSSIA, IF NOT PUTIN, ON SYRIA,
ON CHINA, ON THAT LAST TOPIC THE WALL STREET JOURNAL REPORTED THE
FOLLOWING TODAY, TRUMP SAYS THE DOLLAR IS GETTING TOO STRONG AND
HE WON'T LABEL CHINA A CURRENCY MANIPULATOR.
HE SAID, QUOTE, I THINK OUR DOLLAR IS GETTING TOO STRONG AND
PARTIALLY THAT'S MY FAULT, BECAUSE PEOPLE HAVE CONFIDENCE
IN ME. BUT THAT WILL HURT ULTIMATELY.
JOINING US IS OUR OWN STEPHANIE WHOSE BACKGROUND IN FINANCE
MEANS WE OFTEN CALL ON HER TO EXPLAIN SUCH THINGS TO US.
STEPHANIE, IN ADDITION TO BEING THE FIRST HUMBLE BRAG IN THE
HISTORY OF THE WHITE HOUSE, FOR ALL OF US WHO DIDN'T TAKE
ECONOMICS, WHAT DOES A STRONGER DOLLAR MEAN, AND MORE
FUNDAMENTALLY, IS DONALD TRUMP RIGHT ABOUT THIS?
>> WELL, FIRST OF ALL, YOU HAVE TO ESTABLISH DONALD TRUMP IS
100% FLIP-FLOPPING. BUT MAYBE YOU'RE OKAY WITH THAT.
WHAT HE SAID ON THE CAMPAIGN ABOUT THE STRONG DOLLAR, ABOUT
JANET YELLEN, ABOUT CHINA BEING A MANIPULATOR, HE'S CLEARLY
SAYING SOMETHING DIFFERENT NOW. IT APPEARS THAT MAYBE HE IS
LOOKING AT THINGS BASED IN FACT. SO IN TERMS OF THERE ARE BE A
STRONG DOLLAR, IT SEEMS HE LIKES THE IDEA STRONG DOLLAR BECAUSE
HE LOVES THE WORD STRONG. BUT GIVEN HOW STRONG OUR DOLLAR
IS IN THE GLOBAL ECONOMY, IT CURRENTLY IS TOO EXPENSIVE FOR
OTHER COUNTRIES TO WANT TO BUY OUR GOODS.
IF THE DOLLAR WERE TO GET STRONGER, SO IF WE SAW THE
BORDER ADJUSTMENT TAX, YOU WOULD SEE THE DOLLAR GET STRONGER AND
THAT WOULD BE A NEGATIVE. WE WOULDN'T WANT THAT TO HAPPEN.
SO PRESIDENT TRUMP MAKING THE SIGNAL THAT HE IS TODAY IS KIND
OF SAYING, BORDER ADJUSTMENT TAX, NOT HAPPENING.
IN TERMS OF -- YOU'RE SEEING JANET YELLEN RAISE INTEREST
RATES WHICH SOUNDS LIKE SHE'S ON THE PATH TO DO, PRESIDENT TRUMP
NO LONGER WANTS HER TO DO THAT, SAYING MAYBE THE ECONOMY ISN'T
AS STRONG. CUSTOMER CONFIDENCE AND
SENTIMENT IS UP, BUT WHEN YOU LOOK AT THE ACTUAL FACTS, WHEN
YOU LOOK AT THE SOFT GDP NUMBER OR ACTUAL JOBS NUMBERS, HE IS
SAYING MAYBE I WOULD LIKE IT SLOW AND STEADY, WHICH IS SO
DIFFERENT FROM WHAT HE SAID LAST FALL.
HE SAID JANET YELLEN AND THE FED HIGHLY POLITICIZED, SHE WAS ONLY
LEAVING RATES AS SLOW AS THEY WERE BECAUSE SHE WANTED THE
ECONOMY TO LOOK NICE AND GOOD FOR OBAMA.
BUT THE LIFETIME SAVERS DESERVED MORE.
WELL, NOW THAT HE'S PRESIDENT, REMEMBER, THE GOVERNMENT,
BORROWING TRILLIONS OF DOLLARS, HE WANTS THOSE RATES LOW.
AND HE WANTS THINGS SMOOTH AND STEADY.
IT ALSO POINTS TO THE FACT THAT HE IS MAYBE -- WE TALK ABOUT
STEVE BANNON MAYBE BEING OUT, STEVE BANNON BROUGHT IN NOVARRO.
PETER NOVARRO IS THE GUY SAID CHINA IS THE CURRENCY
MANIPULATOR. HERE'S THE THING, THE DEPARTMENT
EVALUATES ARE THE OTHER COUNTRIES, ARE THE CURRENCIES
BEING MANIPULATED, THEY ARE NOT. MAYBE THIS IS A SIGN THAT PETER
NAVARRO, STEPHEN BANNONS ARE GETTING FARTHER AWAY FROM TRUMP.
JARED KUSHNER

Donald Trump Says The Dollar's Too Strong & It's Partially His Fault | The 11th Hour | MSNBC

Latest Posts