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The U.S. Dollar Is Losing Its Position As A Reserve Currency
In the past, President Trump has never hidden his disdain for the Fed and its hawkish policies, repeatedly drumming up the fact that the central bank’s interest hike regime was contributing to an overly brawny dollar and a sluggish economy. Trump had even gone as far as asking the White House to explore ways to weaken the currency in a bid to boost exports and spur economic growth. The dollar has strengthened for much of the past decade, something that has been blamed for the U.S.’ ballooning deficit. But now Trump is finally getting what he has always wished for: A weaker dollar, albeit not exactly on his terms. ... (full story)