Addressing reporters at the White House while leaving for a trip to Scotland, President Trump said a strong dollar sounds good, but it prevents the United States from selling anything.
President Donald Trump on Friday sent mixed signals about the dollar, expressing his preference for a strong currency while also outlining the negative consequences that it can lead to.
Addressing reporters at the White House while leaving for a trip to Scotland, President Trump said a strong dollar “sounds good,” but it prevents the United States from selling anything, according to a Bloomberg report.
“When we have a strong dollar, one thing happens: it sounds good, but you don’t do any tourism. You can’t sell factories, you can’t sell trucks, you can’t sell anything,” he said.
The President added that a strong dollar is beneficial in keeping inflation low, but that’s about it.
“We have no inflation. We’ve wiped out inflation,” he added.
Meanwhile, U.S. equities gained in Friday morning trade.
The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.22% at the time of writing, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, rose 0.16%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.
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