Trump Threatens the Dollar’s Reign

Bloomberg: “There is no better barometer of global investors’ repudiation of President Donald Trump’s policies than the dollar. Since he took office, it’s lost more than 10% of its value against the euro, pound and Swiss franc and is down against every single major currency in the world.”

“The last time the dollar plunged this much, this fast was in 2010, when the Federal Reserve was frantically printing money to prop up the economy in the wake of the financial crisis.”

“This time, it’s several of the key pillars of the Trump agenda that are driving investors away: the across-the-board tariff hikes that shocked allies and upended trade; the push to ram through tax cuts that would add to bloated deficits and debt; the pressure campaign to get the Fed to slash interest rates; and the bare-knuckled legal tactics employed against those who oppose his policies.”