Steven Mnuchin champions benefits of weaker U.S. dollar in Davos

A weak dollar or a strong dollar? That seems to have been the debate inside the Trump administration for the past year. President Donald Trump has tergiversated on the issue, and so has Treasury Secretary Steven Mnuchin.

But now it seems the White House will gradually end the strong-dollar policy of the last 30 years.

Speaking at the World Economic Forum in Davos on Wednesday, the Treasury Secretary championed the benefits of a weaker greenback, predicting that it would increase the nation’s experts.

“Obviously a weaker dollar is good for us as it relates to trade and opportunities,” Mnuchin told reporters. “But again I think longer term the strength of the dollar is a reflection of the strength of the U.S. economy and the fact that it is and will continue to be the primary currency in terms of the reserve currency.”

The U.S. dollar is already trading at its lowest level in three years as the index has tumbled to just above 90.0. In 2017, the greenback shed about 10 percent of its value.

That said, President Trump and Mnuchin may already be getting their way of a weaker Federal Reserve Note.

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