Trump: Dollar getting too strong, Federal Reserve should keep interest rates low
"I think our dollar is getting too strong, and partially that's my fault because people have confidence in me," Trump said. "But that's hurting -- that will hurt ultimately."
"It's very, very hard to compete when you have a strong dollar and other countries are devaluing their currency," Trump said.
On the campaign trail, Trump frequently slammed China for purposefully weakening its currency, the yuan, to make its goods cheaper on the world market.
He vowed to label China a "currency manipulator" on Day One of his presidency, the equivalent of saying that China cheats. That didn't happen, but the president continued to talk tough on China. In early April, he called China the "world champions" of currency devaluation.
But now, Trump is saying something very different.
"They're not currency manipulators," he said Wednesday.
Trump also acknowledged that China is no longer manipulating its currency, at least not in a harmful way to the US. China has actually been attempting to prop up the yuan lately so wealthy Chinese investors keep their money at home instead of investing overseas.
In addition to softening his tone on the dollar, Trump also sounded a lot more upbeat about Federal Reserve Chair Janet Yellen.
"I like her, I respect her," Trump told the Wall Street Journal.
Only a few months ago, Trump said Yellen should "be ashamed of herself" for keeping interest rates low. He said she was just doing that to help President Obama.
Now the president said he "likes" low interest rates and that he might even ask Yellen to stay on when her term expires in early 2018.
Related news releases
21.07.2017Bank VTB Azerbaijan ends H1 on profit
21.07.2017Gala Life Insurance gets 11.5% decline in assets
21.07.2017Official Exchange Rates
20.07.2017Holcim (Azerbaijan) ends 2016 on loss
20.07.2017BSE ends 2016 on loss
20.07.2017PASHA Bank’s profit exceeds AZN 24M
20.07.2017Yapi Kredi Bank Azerbaijan ends Q2 on profit
20.07.2017Unibank ends H1 on profit
20.07.2017Dollar edges off lows against euro, central banks eyed
19.07.2017Finance Ministry announces revenues and expenditures of state budget
19.07.2017AMF issues AZN 25M-bond
19.07.2017Trade turnover between Azerbaijan and Georgia exceeds $356M
19.07.2017NBC Bank loses hope for repayment of most of troubled loans
18.07.2017IBA’s restructuring plan adopted
18.07.2017ExpressBank gets 17% decline in loan portfolio
18.07.2017Money transfers from Azerbaijan to Georgia increase 38%
18.07.2017AtaBank’s profit nears AZN 1.7M
18.07.2017Muganbank ends H1 on loss
18.07.2017Ziraat Bank Azerbaijan ends H1 on profit
17.07.2017Number of officially unemployed population announced
17.07.2017Personal incomes rise 7% in Azerbaijan
17.07.2017Average monthly salary increases 6% in Azerbaijan
17.07.2017GDP makes up AZN 31.3B in Azerbaijan
17.07.2017TuranBank ends H1 on loss
17.07.2017Nikoil Bank ends H1 on profit
17.07.2017AFB Bank gets 60% growth in deposit portfolio
17.07.2017AZN 7B invested in Azerbaijan’s fixed capital this year
17.07.2017SOFAZ’s assets nears $35B
15.07.2017New prices for 10,385 medicines approved in Azerbaijan
14.07.2017State budget executed with deficit of AZN 471M in first half of 2017
14.07.2017Azerbaijani president approves revised state budget
14.07.2017Troubled loans make up 50% of AGBank’s loan portfolio
14.07.2017Bank Eurasia ends H1 on profit
14.07.2017AGBank’s undistributed profit exceeds AZN 62M
13.07.2017Fitch assigns Asian Infrastructure Investment Bank 'AAA'
13.07.2017Azerbaijan makes 7% of total investments in Turkey
13.07.2017Retail trade turnover increases in Azerbaijan in H1
13.07.2017EU remains as main foreign trade partner of Azerbaijan
13.07.2017Annual inflation reaches 14%
13.07.2017IBA has enough support from creditors to implement restructuring plan
03.11.2016Moody’s: IBA’s normalization will take 18 months
03.11.2016Pakistan increases export to Azerbaijan up to $500M
03.11.2016YapiKredi ends nine months on profit
02.11.2016Fed holds rates steady
02.11.2016PASHA Yatirim Bankasi ends Q3 on profit
02.11.2016Ziraat Bank sells its share in Azer Turk Bank
24 years pass since occupation of Azerbaijan’s Aghdam district by Armenia
Those who were taking exam at university at the time of fire will retake exam
Ali Hasanov: President had deep impressions of meeting with journalists
Fire at university in Baku extinguished, 4 people poisoned with smoke - UPDATED
Azerbaijani, Russian presidents discuss Nagorno-Karabakh conflict
