Trump would have instructed his associates to find a way to weaken the US dollar

President Donald Trump has instructed his aides to find a way to weaken the US dollar in order to revive the economy before the 2020 presidential elections.

The president also asked about the greenback during an interview with Federal Reserve board candidates, Judy Shelton and Christopher Waller, told Bloomberg News of people familiar with the subject.

They also told Bloomberg that Trump's chief economic advisor, Larry Kudlow, and Treasury Secretary Steven Mnuchin, disapproved of the government's falsification aimed at weakening the dollar. Traditionally, previous administrations have always publicly maintained that they favored a strong dollar because dollar badets such as Treasurys are widespread around the world.

Trump has often lamented the relative strength of the US dollar in foreign exchange markets, accusing foreign countries of devaluing their currency and thereby inflating the US trade deficit. Last week, the US president said in a tweet that the United States should match the "monetary manipulation game" of China and Europe.

"China and Europe are playing a big game of money manipulation and injecting money into their system to compete with the United States," Trump said on Twitter. "We should MATCH, or continue to be the dummies who sit and watch politely while other countries continue to play their games – as they have done for many years!"

A strong dollar tends to give an advantage to US consumers when buying foreign goods, but may be detrimental to domestic exporters, as other countries are forced to shell out larger sums for products manufactured in the United States. United States. This is a proven case for Trump, who has made priority deficit reduction.

His questions about Shelton and Waller come after months of attacks on the Fed by the White House and his reluctance to cut borrowing costs, a decision that would reduce the value of the dollar as investors look for higher interest rates elsewhere.

Waller, Executive Vice President of the Federal Reserve Bank of St. Louis, reiterated to the president that central bankers did not take into account the strength or weakness of the dollar when setting interest rates but rather monitoring inflation and employment, reported Bloomberg. The value of the dollar is not part of the double mandate of the Fed entrusted by the Congress to the central bank.

Click here to the original Bloomberg News report.