(Photo by Michael Evans/The White House/Getty Images)
- Officials of the Trump administration have said they want a weak dollar.
- The US government pushing for a weak greenback breaks with recent tradition.
- But 35 years ago, the Reagan administration worked with foreign governments to weaken the dollar.
At the beginning of the year, Treasury Secretary Steve Mnuchin said a weaker dollar "is good for us as it relates to trade and opportunities." The move broke with the tradition of American officials publicly backing a strong dollar, and prompted President Donald Trump to say Mnuchin was taken out of context.
But thirty-five years ago, the US government began taking part in coordinated efforts with allies to weaken the rallying dollar. Here's a brief look back at what happened.
See the rest of the story at Business Insider
NOW WATCH: Cigna's CEO says that the problem with healthcare in America has nothing to do with employers
See Also:
- Toys R Us' bankruptcy delivered a big blow to the jobs report
- Apple is officially the first $1 trillion US company — here's the competition it knocked out to clinch that milestone
- Tech stocks are diving, and traders have never been more scared of a massive meltdown
SEE ALSO: Jobs report misses as unemployment rate slides near 18-year low
from Business Insider https://ift.tt/2AFpmib
No comments:
Post a Comment