President Donald Trump said that he has no plans to devalue the U.S. dollar.
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“We don’t have to – we have such a strong dollar,” he said in response to FOX Business’ Blake Burman asking whether the Trump administration had plans devalue the currency during a press gaggle at the White House on Friday.
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“The problem is our dollar is at a level that it makes it hard,” Trump said. “But the advantage to doing what we have is money is pouring in because we have the safest currency in the world.”
“We have the standard of the world,” he continued. “But because it’s so strong, it’s gotten so strong because other countries have problems. It makes it harder for our manufacturers.”
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Trump added that if the Federal Reserve cut interest rates it would automatically bring down the dollar “a little bit” and make it easier for companies liked Caterpillar.
