Search
 
News

White House Declares Open Season on the Dollar

At Davos, Treasury Secretary Mnuchin lays out benefits of a weaker dollar.

By Cecile Gutscher & John Ainger, Bloomberg | Updated on January 24, 2018

Whether or not the White House choreographed the dollar’s slide to its lowest level in three years, the U.S. administration is certainly providing ammunition for those betting that the greenback will continue to weaken.

The U.S. currency is caught in the rhetorical crosshairs after Treasury Secretary Steven Mnuchin laid out the benefits of a weaker dollar for the American economy at Davos on Wednesday. The comments came days after U.S. President Donald Trump stepped up his protectionist push by slapping tariffs on solar panels and washing machines. Subsequent remarks by Commerce Secretary Wilbur Ross, suggesting that Mnuchin has not shifted America’s long-standing strong-dollar policy, did little to slow the currency’s depreciation.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

A CBDC for the United States

A CBDC for the United States

Lisa Pollina |

Where does the effort stand, and what are the pros, cons, and impacts on your business?

China Sprints Ahead in Race to Modernize Global Money Flows

China Sprints Ahead in Race to Modernize Global Money Flows

Bastian Benrath, Alessandro Speciale & Christopher Condon |

China, Thailand, Hong Kong, and the UAE are collaborating to develop mBridge, a multi-CBDC bridge, that promises cross-border settlement in seconds rather than days.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.