The President has tweeted 3 times so far for Thursday.
As your President, one would think that I would be thrilled with our very strong dollar. I am not! The Fed’s high interest rate level, in comparison to other countries, is keeping the dollar high, making it more difficult for our great manufacturers like Caterpillar, Boeing,…..— Donald J. Trump (@realDonaldTrump) August 8, 2019
….John Deere, our car companies, & others, to compete on a level playing field. With substantial Fed Cuts (there is no inflation) and no quantitative tightening, the dollar will make it possible for our companies to win against any competition. We have the greatest companies…— Donald J. Trump (@realDonaldTrump) August 8, 2019
….in the world, there is nobody even close, but unfortunately the same cannot be said about our Federal Reserve. They have called it wrong at every step of the way, and we are still winning. Can you imagine what would happen if they actually called it right?— Donald J. Trump (@realDonaldTrump) August 8, 2019
As your President, one would think that I would be thrilled with our very strong dollar. I am not!
The Balance explains that a strong dollar, “means that our currency buys more of a foreign county’s goods. It can be good for consumers and international travelers because the things they want to buy (think electronics) and places they want to go are cheaper.”
The downside is that when the dollar is strong, “U.S. companies that sell goods to foreign customers suffer because, relative to a weaker currency, our goods and services cost more. It may mean U.S. producers are at a disadvantage in the global market.”
A weak dollar the article goes on to explain means, “our currency buys less of a foreign country’s goods or services. Prices on imported goods rise. Consumers must pay more for imports, and foreign travelers may need to scale back a vacation because it is more expensive when the dollar is weak.”
The upside to means, “our exports are more competitive in the global market, perhaps saving U.S. jobs in the process.”
As the News Blender reported last week, the Federal Reserve Bank Chairman Jerome Powell, explained the Feds decision to lower the benchmark interest rate to just below 2.25 percent.
In his press conference he explained the cut was a mid-cycle adjustment.
Fed Chairman Powell Calls Rate Cut a ‘Mid-Cycle Adjustment’ https://t.co/669Xk0gpQf— axinte c aurelian (@axinte_surelian) August 7, 2019
As the Washington Post noted at the time, along with interest rate cuts, the Fed also “announced that it would stop selling off its $3.8 trillion in assets in August, two months earlier than expected, in another easing move.”
The Fed meets again in September, the speculation is they will cut rates again.
During his presser Powell also noted that areas of concern are, unsure trade policies, along with softening business investment and declining manufacturing output.
Tariffs =’s tax on American consumers.
For What It’s Worth.
It should be noted here that after his visits to both Daytona, Ohio, and El Paso, Texas, to visit victims of two mass shootings that happened over the weekend, he sent 5 tweets, attacking his critics. He also sent one promoting his visit to the hospital in El Paso.
I don’t know who Joaquin Castro is other than the lesser brother of a failed presidential candidate (1%) who makes a fool of himself every time he opens his mouth. Joaquin is not the man that his brother is, but his brother, according to most, is not much. Keep fighting Joaquin!— Donald J. Trump (@realDonaldTrump) August 8, 2019
Leaving El Paso for the White House. What GREAT people I met there and in Dayton, Ohio. The Fake News worked overtime trying to disparage me and the two trips, but it just didn’t work. The love, respect & enthusiasm were there for all to see. They have been through so much. Sad!— Donald J. Trump (@realDonaldTrump) August 8, 2019
The Dems new weapon is actually their old weapon, one which they never cease to use when they are down, or run out of facts, RACISM! They are truly disgusting! They even used it on Nancy Pelosi. I will be putting out a list of all people who have been so (ridiculously) accused!— Donald J. Trump (@realDonaldTrump) August 8, 2019
Just watched a world class loser, Tim O’Brien, who I haven’t seen or spoken to in many years, & knows NOTHING about me except that he wrote a failed hit piece book about me 15 years ago. Fired like a dog from other jobs? Saw him on Lyin’ Brian Williams Trump Slam Show. Bad TV….— Donald J. Trump (@realDonaldTrump) August 8, 2019
….I am so amazed that MSNBC & CNN can keep putting on, over and over again, people that have no idea what I am all about, and yet they speak as experts on “Trump.” Same people since long before the 2016 Election, and how did that work out for the Haters and Losers. Not well!— Donald J. Trump (@realDonaldTrump) August 8, 2019
Incredible afternoon in El Paso, Texas. We love you, and are with you, all the way! pic.twitter.com/pTNhHapx86— Donald J. Trump (@realDonaldTrump) August 8, 2019
For What It’s Worth Part 2.
This post will be updated within reason.