Alan Greenspan has weighed in on Donald Trump’s “strong dollar” comments.
CNBC’s Sara Eisen asked the former Federal Reserve Chairman in an interview what he suspicion when he listened the US President advise that the dollar is too clever and that it’s spiteful America.
“I incited off my conference aid,” he replied.
Asked either he suspicion Trump competence be means to speak down the dollar, he argued the US currency’s executive role in the global financial complement meant Trump’s statements wouldn’t have much effect.
“Let’s put it this way. The dollar is the general banking in which all the forces of global financial intersect and set the price,” he said. “Nobody’s going to speak it up or down — either it’s the boss of the United States or any person you wish to choose.”
Last week, Trump pronounced in an interview with the Wall Street Journal, “I consider the dollar is getting too strong, and partially that’s my error given people have certainty in me.” Treasury Secretary Steven Mnuchin after pronounced in an interview with the Financial Times that Trump is “absolutely not” trying to speak down the clever dollar.
The greenback jumped to a 13-year high after the Nov election but has given given back some of its gains.
The US dollar index was down 0.3% at 99.52 as of 12:03 p.m. ET.